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A panel to address fiscal policy issues
Why is it in the news?
- The Fifteenth Finance Commission will soon set up a panel to address issues related to fiscal policy for both the Centre and the States.
- The commission also to present a road map for the same.
More in the news
- Fiscal Committee:
(1) It will address some of the issues on fiscal policy, particularly in relation to the debt and the deficit of the States as well as the Central government.
(2) There is a need to have a fiscal road map that covers the Centre and the State government.
(3) The panel will be headed by Mr. Singh and have representation from the Comptroller and Auditor General of India, the Reserve Bank of
(4) India, the Ministry of Finance, the FRBM panel and some of the States.
- Defence and Internal Security:
(1) The Commission had also constituted a group on defence and internal security.
(2) Its mandate will be ‘to examine whether a separate mechanism for funding of defence and internal security ought to be set up, and if so, how such a mechanism could be operationalised.’
(3) This group will be chaired by Mr. Singh with a member of Fifteenth Finance Commission as well as Secretary, Ministry of Home Affairs, Secretary, Ministry of Defence and Secretary (Expenditure), Ministry of Finance as members.
Source
The Hindu.