State Finance Commission hands over first report to Governor, says ‘suitable changes’ suggested in line with changing economic trends

Key Points

1. The 7th State Finance Commission submitted its first report for the 2026-27 fiscal to the Governor on Monday.
2. The Commission is headed by K.N. Harilal.
3. The Commission sought public feedback in June 2025 on governance and finances of local bodies.
4. The Commission will submit further recommendations after the 16th Union Finance Commission's recommendations are known.
5. State Finance Commissions are constituted under Article 243 (I) and (Y) of the Constitution.
6. The 7th State Finance Commission was constituted in September 2024.
7. The report was handed over to Governor Rajendra Vishwananth Arlekar.