The finance minister today announced the formation of the 14th Finance Commission. Former RBI governor, YV Reddy will be the chairman of the commission.
The finance minister said that the commission will look into issues like divestment, GST compensation, sale of non-priority PSUs and subsidies.
The commission will also suggest steps for pricing public utilities like electricity and water in an independent manner. The commission will submit its report by the 31st October, 2014.
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