SME Times News Bureau | 18 May, 2019
The third meeting of
the Advisory Council of the Fifteenth Finance Commission was held in New Delhi
It was chaired by
Shri N.K. Singh, Chairman, XVFC and attended by Members of the Advisory Council,
Members of the Commission Anoop Singh, Ajay Narayan Jha, Shri Amitabh Kant,
CEO, Niti Aayog (Special Invitee), Subhash Chandra Garg, Finance Secretary
(Special Invitee), Girish Chandra Murmu, Expenditure Secretary (Special
Invitee) and senior officials of the Commission.
In the meeting the
Council Members were updated by the Commission on the progress made in terms of
State Visits by the Commission, consultations with the RBI, with Bankers and
financial institutions, with stakeholders and domain experts.
Discussions were also
held on the structure of the Commission’s Report and the ToR-wise mapping of
Issues of Public
Sector Borrowing Requirement(PSBR), issues concerning GST and its
implementation, transparency in publishing accounting data related to debt and
deficit, possible trajectories of debt consolidation of the General Government,
impact of UDAY on state liability, dynamic interaction between fiscal deficit,
inflation, interest rates and private investments were also discussed in
Views of the Members
were sought on possible scenario for macro variables like GDP projections and
economic outlook during the award period of the Commission i.e.2020-21 to
2024-25. The meeting also analysed a presentation made by Dr. Sajjid Z. Chinoy
on Public Sector Borrowing Requirement, in today’s meeting..
Chairman, N. K. Singh
announced that there would be three more meetings of the Council, one after the
formation of the new government, one after the formal submission of the
Memorandum of the Government to the Finance Commission and the last before the
final report of the Commission is submitted to the Government.