The role of State Finance Commissions in building regional equity and strengthening the federal link has largely been underutilized. Discuss.

Article 243I and 243Y provide for state finance commission to local levels of fine mobilization and allocation. Roles of State FC underutilized 1. Terms of reference are not updated 2. Not regularly constituted under Article 280-I (Central FC) Lack of diversity in representation, mostly headed by retired bureaucrats 4. Lack of innovation to ensure finance mobilization like green bonds/mini bonds 5. Recommendations are non-mandatory