15th Finance Commission forms panel | Current Affairs, Current Affairs 2018

15th Finance Commission forms panel

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Aiming to solve the controversy over the opposition from some states 15th Finance Commission (FC) has set up six-member council.

The council will advise and assist the commission on the ToR and help in broadening the commission’s ambit and understanding.  The council comprises Arvind Virmani, former chief economic advisor in the finance ministry; Surjit S Bhalla, part-time member of the Prime Minister’s Economic Advisory Council; Sajjid Chinoy, chief India economist at JP Morgan; Neelkanth Mishra, managing director and Credit Suisse India economist and strategist; Sanjeev Gupta, former deputy director (fiscal affairs) at the International Monetary Fund; and Pinaki Chakraborty, professor at NIPFP.

Some states have claimed that the progressive ones stand to lose if the commission follows its ToR and takes the 2011 census as the basis for the devolution of central funds, instead of 1971, that was adopted earlier.

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