Supreme Court Issues Directions to Speed Up MACT Claims Amid Six-Year Average Pendency  ||  Supreme Court: Sex Selection Practices Continues Due to Preference For Male Children  ||  Supreme Court: Injury From a Fallen Tree is Not a Motor Accident for MACT Claims  ||  Madras HC: Recent Tamil Nadu Elections Reflect Voting Beyond Caste and Community Considerations  ||  Supreme Court: Children Should Not Undergo Psychological Tests in Custody Cases Unless Necessary  ||  Jharkhand HC: Lokayukta Cannot Delegate Core Adjudicatory Powers Even in Case Against Brother  ||  Ker HC: Complainant Can Invoke Presumptions After Proving Transaction, Cheque Execution Convincingly  ||  Supreme Court Cancels SARFAESI Auction Sale After 16 Years Due to a 5-Day Payment Delay  ||  Jhar HC Orders 2-Month Probe Deadline, DGP Monitoring to Overhaul Sexual Violence Response in State  ||  Delhi HC: Social Media Cannot Undermine Judiciary; Intermediaries Must Act Without Court Orders    

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