The Seventh Finance Commission of India was incorporated in 1978 consisting of Shri J. M. Shelar as the chairman.
Members The members of the Commission were: Shri J. M. Shelat, Chair Dr. Raj Krishna Dr. C. H. Hanumantha Rao Shri. H. N. Ray Shri. V. B. Eswaran, Member Secretary
Recommendations The share of the states in the net proceeds should be raised to 85% excepting the share of the Union Territories which would be 2.19% of net proceeds The inter se distribution between the states should include 10% contribution factor and rest 90% would be on basis of population. The 10% allotment would be based on the State-wise net assessments
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