Approach of the twelfth finance commission to local body. Payment of interest to panchayat raj institutions for the delayed period in the release of grants for the year 201112 under th finance commission grants. The shares of various states under the 14th fc have been given below along with those under the th fc. The thirteenth finance commission was required to look into the revenue impact of the introduction of the goods and services tax. The thirteenth finance commission submitted its report in parliament on february 25, 2010. Conundrum of conditionalities article pdf available in economic and political weekly xiv48. The eleventh finance commission of india was appointed by the president on july 3, 1998 for the period 20002005. Its report, based on the recommendations of a task force constituted to study the issue, recommends a highly uniform and centralised format that does not adequately recognise a tax reform exercise in a multilevel fiscal system that involves compromises and tradeoffs. The finance commission is constituted by the president under article 280 of the constitution.