Karnataka govt forms fifth State Finance Commission
Bengaluru (PTI): The Karnataka government has constituted the fifth State Finance Commission, which has been tasked with coming out with recommendations on the division and allocation of resources after reviewing the financial position of Urban Local Bodies (ULBs) and Panchayat Raj institutions.
Headed by former MP C Narayanaswamy, the panel will have retired IAS officer Mohamed Sanaulla and retired Controller in the State Accounts Department R S Phonde as members.
The commission will review the financial position of the zilla panchayats, taluk panchayats, gram panchayats, municipal corporations, city municipal councils, town municipal councils and town panchayats, a government order said.
It will make recommendations to determine the principles, which should govern the distribution between the state government and various ULBs and panchayats of the net proceeds of the taxes, duties, tolls and fees leviable by the government, which may be divided and allocated between them to their respective shares of such proceeds.
It will also determine the taxes, duties, tolls and fees which may be assigned to, or appropriated by the ULBs and panchayats.
The panel will look into the Grant-in-aid given to these bodies from the consolidated fund of the state and the measures needed to improve their financial position, examine and give suggestions on the extent to which and the manner in which the resources available to the local bodies could best be utilised for meeting the expenditure of these bodies.
It will make a detailed analysis on repayment of loans and advances extended by the government from time to time to the local bodies to make suitable recommendation for repayment of government dues and the possibility of adjusting these dues against future devolution of revenues from government to these bodies.
''In making its recommendations the Commission shall have regard to the resources of the State Government and the demands thereon on account of expenditure of civil administration, debt servicing, development and other committed expenditure,'' the order said.
The Commission will have to furnish its report by February 28, 2024.
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US rules out use of nuclear weapons against Iran
Washington DC: The White House has reportedly ruled out the use of nuclear weapons against Iran, even as uncertainty continues over ongoing peace negotiations and a deadline set by US President Donald Trump approaches.
Issues bout a possible escalation had increased after US Vice President JD Vance said that the United States has “tools in our toolkit that we so far haven’t decided to use” in dealing with Iran.
His remarks came amid rising tensions and ahead of a deadline linked to peace efforts.
The situation has attracted attention as Trump warned Iran that its “whole civilization will die tonight tonight” if an agreement is not reached by Tuesday at 8 pm.
This statement led to speculation about the possibility of extreme military measures, including a nuclear strike.
Following Vance’s comments, the White House issued a clarification distancing itself from such interpretations. In a post on X, it said, "Literally nothing @VP said here 'implies' this, you absolute buffoons." In a later statement, it added that “only the president knows” what action will be taken regarding Iran.
Literally nothing @VP said here "implies" this, you absolute buffoons https://t.co/7JU3wXMaWX
— Rapid Response 47 (@RapidResponse47) April 7, 2026
