Kohima,5 Aug : Nagaland Government has constituted the First Nagaland State Finance Commission to work out principles for governing the distribution of resources between the State Government and the municipalities of the net proceeds of taxes, duties, tolls and fees leviable by the state.
The 4 member Commission will be headed by Justice (Retired) Zelre Angami and the tenure of the Commission will be for a period of 12 months i.e. upto 31st July 2009. Other members are L.T. Konyak NCS (retired), R.O. Ovung, Retired Commissioner, Taxes and Commissioner & Secretary Urban Development as Member Secretary.
The Commission shall make recommendations relating to determination of taxes, duties, tolls, fees which may be assigned to, or appropriated by the municipalities and the grant-in-aid to the municipalities from the Consolidated Fund of the State.
The Commission will also recommends measures need to improve the financial position of the municipalities and any other matter referred to the Commission by the State Government in the interest of sound finances of the municipalities.
While making recommendations the Commission shall consider the objective of balancing the receipts and expenditure of the State Government and the local bodies and for generating surplus for capital investment, the requirement of the municipalities, their potential for raising resources and for reducing expenditure.
The terms of office of the Chairman and the members and the conditions of their services and other allowances shall be as prescribe under Rule of the Nagaland State Finance Commission Rules 2008.
The Commission shall make available its report by 31st July 2009 covering the period for five years commencing on 1st April 2010.