<h1>Union Cabinet Extends Fifteenth Finance Commission's Term for Comprehensive Fiscal Reports Covering 2020-21 to 2025-26.</h1> The Union Cabinet, led by the Prime Minister, approved the extension of the Fifteenth Finance Commission's term to allow it to submit two reports. The first report will cover the fiscal year 2020-21, and the final report will cover fiscal years 2021-22 to 2025-26, due by October 30, 2020. This extension grants the Commission additional time to assess states' financial needs and align its recommendations with both state and central government requirements. The extended coverage aids in medium-term resource planning, enabling governments to design and evaluate financial schemes with a long-term perspective.