The Sixteenth Finance Commission has constituted a five-member Advisory Council. This will help in broadening the scope of the Commission. The country's well-known economist Arvind Panagariya is its chairman.
The Finance Ministry said in a statement issued on July 10 that the 16th Finance Commission headed by Arvind Panagariya has constituted a five-member Advisory Council. This five-member advisory committee will be headed by Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER). Its other members are D.K. Srivastava, Neelkanth Mishra, Pranjul Bhandari and Rahul Bajoria.
According to the Finance Ministry, the role, function and objective of this council is to seek the best national and international measures on matters related to fiscal transfers. It will help in broadening the scope and understanding of the commission and improving the quality, reach and enforcement of its recommendations. Apart from this, this committee will help in preparing research studies and will monitor and assess the studies being conducted by the Finance Commission.
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