Kohima, December 18 (MExN): The Fourth Nagaland State Finance Commission (NSFC) has invited suggestions and views from the general public, institutions, and organizations on matters related to municipal finances, with a particular focus on the determination and distribution of taxes.
The deadline for receiving suggestions is March 31, 2025.
The Commission, constituted by the Government of Nagaland on October 25, 2024, under the chairmanship of Sarah R. Ritse (Retired Commissioner & Secretary), is tasked with making recommendations for a five-year period, from April 1, 2026, to March 31, 2031.
Matters before NSFC
The NSFC will recommend the principles for the distribution of net proceeds from taxes, duties, tolls, and fees leviable by the State between the State and Municipalities. It will also determine which taxes, duties, tolls, and fees may be assigned to or appropriated by the Municipalities and consider grants-in-aid to the Municipalities from the Consolidated Fund of the State.
Further, the Commission will address measures needed to improve the financial position of Municipalities and suggest rates for various taxes, tolls, and fees that may be raised by Municipalities, along with the methods for determining the same. Additionally, it will consider any other matters referred to it by the Government in the interest of the sound finances of Municipalities.
In making its recommendations, the NSFC will focus on balancing the receipts and expenditure of both the State Government and Local Bodies, generating surplus for capital investment, and considering the resources and demands of the State Government, including expenditures on civil administration, capital asset maintenance, and committed expenditure.
The Commission will also assess the municipalities' potential for raising resources and reducing expenditure.
The suggestions can by e-mail to: fourthfincom2024@gmail.com latest by March 31, 2025.
Further, it can be send via postal services addressing to the Member Secretary, Fourth Nagaland State Finance Commission, Directorate of Treasuries and Accounts Building, First Floor, New capital Complex, Kohima, Nagaland 797004.
