The Commission is charged with making recommendations to the President on the distribution of the taxes between the Centre and the States and the consequent distribution among the States themselves. It also recommends grants in aid to States and suggest measures to strengthen the functioning of the third tier governments comprising of Panchayati Raj (for rural areas) and Municipal bodies (for urban areas).
Yves Mersch: Are the economy and monetary policy at a turning point - and where are the European and US economies headed? Speech by Mr Yves Mersch, Member of the Executive Board of the European Central Bank, at the Panel at the Petersberger Sommerdialog, Königswinter, 30 June 2018.