<h1>Finance Commission Discusses COVID-19 Economic Impact, Urges Increased Health Spending Amidst Tax Revenue Decline and Deficits.</h1> The Fifteenth Finance Commission held virtual meetings with its Advisory Council on June 25th and 26th, 2020, to address challenges posed by the COVID-19 pandemic. The discussions highlighted the uncertain economic impact and fiscal pressures on the Union and State Governments, with reduced GDP growth projections and disrupted supply chains affecting tax revenues. The Advisory Council noted the asymmetrical impact on tax collections and discussed the implications on government deficits and debt. The need for substantial government expenditure on health and economic support was emphasized, and the Commission will monitor economic indicators to guide fiscal policy decisions.