The Seventh Finance Commission of India was incorporated in 1978 consisting of Shri
J. M. Shelar as the chairman.
Members
The members of the Commission were:
* Shri
J. M. Shelat, Chair
* Dr.
Raj Krishna
Raj Krishna was an Indian economist who taught at the Delhi School of Economics. He is most famous for the phrase " Hindu rate of growth" which he coined for India's low rate of GDP
Gross domestic product (GDP) is a monetary measure of ...
* Dr.
C. H. Hanumantha Rao
* Shri.
H. N. Ray
* Shri.
V. B. Eswaran, Member Secretary
Recommendations
* The share of the
states in the net proceeds should be raised to 85% excepting the share of the
Union Territories which would be 2.19% of net proceeds
* The inter se distribution between the states should include 10% contribution factor and rest 90% would be on basis of
population
Population typically refers to the number of people in a single area, whether it be a city or town, region, country, continent, or the world. Governments typically quantify the size of the resident population within their jurisdiction using a ...
. The 10% allotment would be based on the State-wise net assessments
References
Further References
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Finance Commission of India
1978 establishments in India
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