RBI to assist 15th Finance Commission to finalise 'Terms of Reference'
Published: Dec 07, 2017
By TIOLCORPLAWS News Service
MUMBAI, DEC 07, 2017: THE Chairman of 15th Finance Commission (FC), Mr. N. K. Singh called on the Governor, Reserve Bank of India (RBI), Dr. Urjit Patel here on December 6, 2017. They discussed the technical and other assistance which the RBI could give enabling the Commission to discharge its wide ranging terms of reference. The RBI has the data and technical speciality in matters relating to overall finances. The emerging fiscal scenario and the RBI's State Finance Division is a rich repository of information on State finances over a long period of time.
Mr. Singh said that the Commission would be greatly benefitted by the analytical and domain knowledge of the RBI in these specialised areas. The RBI could also assist the Commission in the preparation of analytical papers and analysis on some of the complex issues which the Commission would need to address in its terms of reference, Mr. Singh concluded.
The Cabinet Committee on Economic Affairs (CCEA) last week approved a proposal to set up of the 15th FC and finalise its terms of reference, Finance Minister, Mr. Arun Jaitley had said on November 22, 2017 after a meeting of the Union Cabinet.