Expert Panel Set Up By Finance Commission To Advise On Terms Of ReferenceThe Finance Ministry’s head office (Mint via Getty Images)

The fifteenth finance commission met today (10 May) went ahead to set up an expert committee to set up an expert committee to advise it on matters relating to Terms of Reference (ToR) that has recently come under attack in several states such as Andhra Pradesh and Kerala, reports PTI. States from the south have criticised the ToR saying it using the 2011 census as a base to distribute central funds would see progressive states lose out on their revenue.

According to a government release, the committee has been set up by the commission to advise it on matters relating to the ToR. The panel’s purpose would be to undertake any whitepaper or study in any matter that would help enhance the Commission’s understanding of ToR.

Members of the panel include former Chief Economic Adviser Arvind Virmani, Surjit Bhalla, former International Monetary Fund (IMF) deputy director Sanjeev Gupta, professor Pinaki Chakraborty, J P Morgan’s Sajid Chinnoy and Neelkanth Mishra of Credit Suisse India.

Finance Minister Arun Jaitley had last month clarified that there was no inherent bias against states that had implemented population control measures under the ToR and said that a needless controversy was being created.

Andhra Pradesh Chief Minister Chandrababu Naidu had come out strongly against the ToR recently, claiming that it hurt progressive states when the 2011 census data was taken as a base to distribute funds by the Centre.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement