11 May 2018: UPSC Exam PIB Summary & Analysis

Joint Exclusive Economic Zone (EEZ) Surveillance of Maldives

• Indian Naval (IN) ship Sumedha, a Naval Offshore Patrol Vessel (NOPV), has been deployed to undertake joint EEZ surveillance of Maldives from 09 to 17 May 18, as part of Indian Navy’s ‘Mission Based Deployments’.
• The Joint EEZ surveillance of Maldives is an endeavour of the Government of India and the Indian Navy to ensure the safety and security of the vast EEZ of the island nation.
• India and Maldives are currently conducting the 2nd Asymmetric Warfare Training Exercise ‘Ekatha 2018’ at Maldives.

Fifteenth Finance Commission constitutes an Advisory Council

• The Fifteenth Finance Commission has constituted an Advisory Council to advise and assist the Commission. The role and functions of the Advisory Council will be:
• To advise the Commission on any issue or subject related to the Terms of Reference (ToR) of the Commission, which may be of relevance;
• To assist in the preparation of any paper or research study which would enhance the Commission’s understanding on the issues containing in its ToR; and
• To help in broadening the Commission’s ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.

About 15th FC

• The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951.
• This Commission will be headed by Shri. N.K.Singh, former Member of Parliament and former Secretary to the Government of India.
• The new Finance Commission will cover five-year period commencing April 1, 2020. 
• As per Article 280 of the Constitution, the Commission is required to make recommendations on the distribution of the net proceeds of taxes between the Centre and the states.
• The Commission also suggests the principles which should govern the grants in aid of the revenues of the states out of the Consolidated Fund of India.

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