Overview: National Development Agenda, Fourteenth Finance Commission and The Union Budget 2015-16

Abstract

The first meeting of the Governing Council of NITI was held on 8th February 2015. The meeting endorsed the outline of a National Development Agenda and agreed to function as an organic Team India. Later in the month, the recommendations made by the Fourteenth Finance Commission (FFC) in its report submitted to the President on December 15, 2014 has been presented to Parliament; the Economic Survey 2014-15 and the Budget 2015-2016 have also been presented. In the following, we present an overview of the implications of the FFC recommendations and the Union Budget 2015-16 for the national development agenda. Alongside, we also bring out the key elements of the outlook presented in the Economic Survey 2014-15.