Finance Commission

The Finance Commission as constituted under section 200 of the Goa Panchayat Raj Act, 1993 shall have power to review the financial position of all Councils in the State from the date of commencement of the Goa Municipalities (Amendment) Act, 1993 and thereafter at the expiration of every fifth year, constitute a Finance Commission to review the financial position of the Councils and to make recommendation to the Government as to,— (a) the principal which should govern— (i) the distribution between the State and the Councils and the net proceeds of the tax, duties, tolls and fees leviable by the Government which may be divided between them and allocation between them of their respective share of such proceeds; (ii) the determination of the taxes, duties, tolls and fees which may be assigned to or appropriated by the Councils; (iii) the grants-in-aid to the Councils from the Consolidated Fund of the State; (b) the measures needed to improve the financial position of the Council; (c) any other matter referred to the Finance Commission by the Governor in the interest of sound finance of the Council. (2) The Finance Commission shall determine its procedure. (3) The Commission shall have the following powers in the performance of its functions, namely:— (a) to call for any record from any officer or authority; (b) to summon any person to give evidence or produce records; (c) such other power as may be prescribed. (4) The Governor shall cause every recommendation made by the Finance Commission under this section together with an explanatory memorandum as to the action taken thereof to be laid before the State Legislature.