GOI’s Expenditure Management Commission will submit its final report by December 2015. The announcement was made by the commission’s Chairman Bimal Jalan. The government of India had set up the Commission under the former RBI Governor in August 2014 to suggest steps to reduce subsidies on food, fertiliser and oil and narrow the fiscal deficit. Former finance secretary Sumit Bose and former RBI deputy governor Subir Gokarn are members of the Commission.
The Commission had submitted its interim report in January and is mandated to submit the final one before Budget 2016-17. The government has already introduced DBT scheme to plug leaks in LPG subsidy and other welfare schemes to ensure the benefit reaches the poor directly.
Tidbits
Bimal Jalan has held many top positions like Chief Economic Adviser, Banking Secretary, Finance Secretary, Chairman of the Economic Advisory Council, President of National Council of Applied Economic Research, and also the Governor of Reserve Bank of India for two terms.
He was succeeded as RBI Governor by Y. Venugopal Reddy on September 6, 2003.
He has authored many books. Some of his famous works include
- The Future of India
- India’s Politics: A View from the Backbench
- he Future Of India: Politics, Economics, And Governance
- The Indian Economy: Problems And Prospects
- India’s Economic Policy
- Emerging India: Economics, Politics and Reforms
- India’s Economic Crisis: The Way Ahead
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