Finance Commission report to be presented in Budget session

New Delhi, Feb 11 (ANI): The Union Cabinet on Thursday has decided to place the 13th Finance Commission report before the Parliament in the forthcoming budget sessions.

The report is an outline of how taxes will be shared between the states and the Centre from 2010-2015.

The commission has given its recommendations on the basis of wide consultations with stakeholders and a detailed assessment of the financial position between the states and the Centre.

The cabinet also gave a green signal to the Air Services Agreement between India and Nepal.

The Cabinet Committee on Economic Affairs also approved 27 percent OBCs reservation in Post Graduate Institute of Medical Education and Research (PGIMER) Chandigarh.

It has also been decided that the foreign investments proposals involving total foreign equity inflow of more than Rs.1200 crore would be placed before the cabinet.

Earlier, the Finance Ministry had approved foreign investments of up to Rs 600 crore, the surplus were put up to the CEA for approval. (ANI)