NK Singh chairs first meeting of 15th Finance Commission

ANI | Updated: Dec 04, 2017 17:28 IST

New Delhi [India], Dec 4 (ANI): The 15th Finance Commission, which was constituted by the Centre with the approval of President Ram Nath Kovind, held its first meeting under the chairmanship of NK Singh, on Monday.

During the meeting, the panel decided to hold wide-ranging consultations with all stakeholders, inlcuding various ministries, state governments, local bodies, panchayats and political parties of each state government.

The commission also held preliminary discussions on the Terms of Reference for the 15th Finance Commission as per the order made by President Kovind and notified by the Ministry of Finance on November 27. For the same, the committee recognised the need to undertake analytical papers, analysis from leading research organisations within the country and elsewhere.

The commission also expressed its interest in seeking academic inputs and interactions with leading think tanks and domain knowledge experts which would assist the commission in its work.

Further, the commission approved the setting-up of its office at Jawahar Vyapar Bhawan, Janpath in the national capital.

Prior to the meeting, the chairman and members of the 15th Finance Commission called-on Union Finance Minister Arun Jaitley in his office in North Block on Monday.

The commission, under NK Singh, who is a former member of parliament and former secretary to the Government of India, is expected to make recommendations for the five years commencing April 1, 2020.

The members of the Commission include Shaktikanta Das, former Economic Affairs Secretary and Dr Anoop Singh, Adjunct Professor, Georgetown University, while Dr Ashok Lahiri, Chairman (Non-executive, part time), Bandhan Bank and Dr Ramesh Chand, Member, NITI Aayog will be part time members.

Arvind Mehta will be the Secretary to the Commission. (ANI)