New Delhi: Finance Minister Pranab Mukherjee
on Wednesday said recommendations of the 13th Finance Commission,
which submitted its report to President Pratibha Patil earlier
in the day, will be reflected in the Budget 2010-11.
"There is a system. (The report) will be tabled in
Parliament as per the system," Mukherjee told reporters on the
sidelines of a function here.
After that, the report will be reflected in the Budget,
he said.
The report of the 13th Finance Commission, headed by
former Finance Secretary Vijay Kelkar, assumes importance
since reforms in the direct and indirect taxes areas are
likely to be in place in the next couple of years in the form
of Goods and Services Tax (GST) and Direct Taxes Code.
Kelkar presented the report to Patil at the Rashtrapati
Bhavan.
The report will be given by the President to the Finance
Ministry, which will take it up with the Cabinet. Cabinet will
then adopt the report and is expected to table it in the
Budget session of Parliament.
PTI
First Published: Wednesday, December 30, 2009, 16:33