The Government of Mizoram has constituted a full-fledged Finance Commission with a full-time functioning since 1st September, 2012. To start with the process, the commission has developed and devised formats for collection of data relating to financial position of the Autonomous District Council, along with various issues on which detail notes may furnish by the District Council and as per provision provided under 20BB of the Sixth Schedule to the Constitution of India.
The Sixth Schedule to the Constitution of India has vested the District Councils with powers to make Laws on matter listed in paragraph 3 (i) and paragraph 6(i)(2) of the Schedule for its functioning with approval of the Governor of Mizoram. And, in pursuance of paragraph 7 (3) of the Sixth Schedule, the forms in which Account of the District Councils are to be maintained, were prescribed by the comptroller and Auditor General of India with the approval of the President of India on April, 1974, till then.
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