The main objective of the SFC is to discern and recommend the ways and means to improve and invent the new sources of income of Panchayats and recommend the formula of distribution of funds from the State divisible pool to the Municipalities and Panchayats.
- Currently, out of the total divisible pool in total net tax receipts of the State, 60% is being given to Municipalities/ULBs and 40% to Panchayati Raj Institutions(PRIs) Panchayati Raj Department, Uttar Pradesh- A Commitment to PRIs.
- Funds devolved under the recommendation of SFC -to the Panchayats are utilized on the maintenance of assets owned by Panchayats.
Local governing bodies, including Municipalities, ULBs, and PRIs, are eligible beneficiaries for receiving funds allocated by the SFC.
- SFC identifies and recommends new income sources for Panchayats, ensuring sustainable financial growth.
- Allocates funds from the State divisible pool, with 60% to Municipalities/ULBs and 40% to Panchayati Raj Institutions (PRIs), promoting balanced development.
- Funds allocated under SFC recommendations are utilized for maintaining Panchayat-owned assets, fostering infrastructural development.
- Obtain Application Form Request to complete the official application form provided by the Panchayati Raj Department or relevant authority.
- Submit Required Documents, along with the application, submit necessary documents such as identity proofs, financial statements, and project proposals.
- The application undergoes review by the SFC for eligibility and compliance with guidelines.
- Upon approval, funds are allocated based on the SFC's recommendations to the respective local governing bodies.
- Official Application Form
- Proof of Identity
- Financial Statements
- Project Proposals
- Asset Ownership Documents
- Any Additional Documentation as per SFC guidelines.
The State Finance Commission (SFC) is tasked with recommending ways to improve and identify new sources of income for Panchayats and distributing funds from the State divisible pool to Municipalities and Panchayats.
Currently, 60% of the total divisible pool in the net tax receipts of the State is allocated to Municipalities/ULBs, while 40% is allocated to Panchayati Raj Institutions (PRIs).
The SFC provides crucial financial resources to Panchayats and Municipalities/ULBs for the maintenance of assets, infrastructure development, and overall improvement of local governance.
Panchayats and Municipalities/ULBs within the state jurisdiction are eligible to receive funds as per the recommendations of the SFC.
The application process involves submitting a formal request to the State Finance Commission along with necessary documentation, including financial reports, project proposals, and other relevant records.
The funds allocated by the SFC are utilized by Panchayats and Municipalities/ULBs for various purposes such as infrastructure development, maintenance of assets, community welfare projects, and other initiatives aimed at improving local governance and service delivery.