Supreme Court: Multiple Cases Alone Cannot Justify an Externment Order  ||  Supreme Court: Certiorari Can Quash a Tribunal Decision That is Grossly Perverse  ||  Supreme Court: Informant’s Consent is Not Required to Quash a Case Settled With the Victim  ||  Madras High Court: False Posts Against a Minister are Not an Offence Without Intent to Cause Alarm  ||  Delhi High Court: Police Cannot Pick and Choose Among Accused Persons for Arrest  ||  J&K High Court: Bar Associations are Not ‘State’ under Article 12 and are Outside Writ Jurisdiction  ||  Calcutta High Court: Third Parties Can Challenge Inaction Against Unauthorised Construction  ||  Madras High Court: Being an Advocate Does Not Mean a Person Cannot Commit an Offence  ||  Delhi High Court: Husband Cannot Reopen Settled Marital Disputes to Avoid Maintenance Liability  ||  Calcutta High Court: State Cannot Deny CRMI Seats to Foreign Medical Graduates Citing Stipend Costs    

Fiscal Responsibility and Budget Management (FRBM) Committee headed by Shri N.K. Singh presents its Report to the Union Finance Minister Shri Arun Jaitley- (Press Information Bureau) (23 Jan 2017)

MANU/PIBU/0035/2017

Miscellaneous

The Fiscal Responsibility and Budget Management (FRBM) Committee headed by Shri N.K. Singh, former Revenue and Expenditure Secretary and former Member of Parliament presented its Report to the Union Finance Minister Shri Arun Jaitley today in his (FM) office in North Block in the national capital. Other Members of the Committee including Dr. Urjit R. Patel, Governor, Reserve Bank of India (RBI), Shri Sumit Bose, former Finance Secretary, Dr. Arvind Subramanian, Chief Economic Adviser and Dr. Rathin Roy, Director, National Institute of Public Finance & Policy (NIPFP) were also present on the occasion. The Government will examine the Report and take appropriate action.

Earlier, the Government had constituted a Committee in May, 2016 to review the Fiscal Responsibility and Budget Management (FRBM) Act under the Chairmanship of Shri N.K. Singh, former Revenue and Expenditure Secretary and former Member of Parliament. The Committee consisted of Dr. Urjit R. Patel, Governor, Reserve Bank of India (RBI), Shri Sumit Bose, former Finance Secretary, Dr. Arvind Subramanian, Chief Economic Adviser and Dr. Rathin Roy, Director, National Institute of Public Finance & Policy (NIPFP) as members.

The Committee had wide ranging Terms of Reference (ToR) to comprehensively review the existing FRBM Act in the light of contemporary changes, past outcomes, global economic developments, best international practices and to recommend the future fiscal framework and roadmap for the country. Subsequently, the Terms of Reference were enlarged to seek the Committee's views on certain recommendations of the Fourteenth Finance Commission and the Expenditure Management Commission. These primarily related to strengthening the institutional framework on fiscal matters as well as certain issues connected with new capital expenditures in the budget.

The Committee held extensive consultations with a wide range of stakeholders. It also received inputs from eminent national and international organisations and domain experts. The Committee also held interactions with various Ministries of Government of India as well as with the State Governments.

Tags : BUDGET MANAGEMENT   COMMITTEE   REPORT  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved