Government has extended the term of the 14th Finance Commission by two months to 31st of December this year. The Commission had sought extending the time period to examine financial projections, carry out consultations with Andhra Pradesh and Telangana Government.

It was assigned with additional term of reference on 2nd of June this year to make recommendations for the successor States following bifurcation of the State of Andhra Pradesh. The Commission constituted on 1st of January,2013 was to submit its report by 31st of October this year.