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The 15th Finance Commission submitted its final report in November 2020 and the government tabled it in the parliament February 1, 2021, along with Budget 2021. It also submitted an explanatory memorandum containing its responses to the recommendations of the 15th Finance Commission (FC). The Government of India accepted the FC’s recommendations with respect to local governments, including municipalities (also known in government parlance as urban local bodies). The 15th FC allocated grants of Rs 1.55 lakh crore to municipalities, with the following distribution. [see figure]
First, a quick introduction to the Finance Commission. The FC is constituted every five years by the Ministry of Finance to recommend a formula for distribution of tax revenues of the union government, between the central and state governments (known as a vertical distribution), and between various state governments (known as a horizontal distribution). It is also entrusted wi ....

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