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Council to meet three more times prior to submission of XVFC Report

Council to meet three more times prior to submission of XVFC Report

The third meeting of the Advisory Council of the Fifteenth Finance Commission was held in New Delhi today. It was chaired by Shri N.K. Singh, Chairman, XVFC and attended by Members of the Advisory Council, Members of the Commission Dr. Anoop Singh, Shri Ajay Narayan Jha, Shri Amitabh Kant, CEO, Niti Aayog (Special Invitee), Shri Subhash Chandra Garg, Finance Secretary (Special Invitee), Shri Girish Chandra Murmu, Expenditure Secretary (Special Invitee) and senior officials of the Commission.

In the meeting the Council Members were updated by the Commission on the progress made in terms of State Visits by the Commission, consultations with the RBI, with Bankers and financial institutions, with stakeholders and domain experts. Discussions were also held on the structure of the Commission’s Report and the ToR-wise mapping of the Report. Issues of Public Sector Borrowing Requirement(PSBR), issues concerning GST and its implementation, transparency in publishing accounting data related to debt and deficit, possible trajectories of debt consolidation of the General Government, impact of UDAY on state liability, dynamic interaction between fiscal deficit, inflation, interest rates and private investments were also discussed in detail.

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