Panel formed to advise on finance commission's terms of reference
New Delhi, May 9: The 15th Finance Commission on Wednesday set up an advisory council to assist it in matters related to its terms of reference (ToR).
The panel, to be headed by Forum for Strategic Initiatives President Arvind Virmani, will advise the commission on all relevant issues and subjects and help conduct research studies to enhance the commission's understanding of issues in its ToR, an official statement said.
It will also "help in broadening the commission's ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations", it added.
The other members of the advisory council include Prime Minister's Economic Advisory Council member (part-time) Surjit Bhalla, Ex-Deputy Director (Fiscal Affairs Department) of International Monetary Fund Sanjeev Gupta, National Institute of Public Finance and Policy professor Pinaki Chakraborty, JP Morgan's Chief India Economist Sajjid Chinoy and Credit Suisse India economist and strategist Neelkanth Mishra.
On Monday, a meeting of 11 state finance ministers held in Amaravati described the Finance Commission's ToR as undermining the federal structure and decided to seek President Ram Nath Kovind's intervention to reframe them.
They claimed that the ToR almost penalises states for being progressive and well-performing.
On Tuesday, Congress leader P. Chidambaram urged the finance ministers of all states to sign a memorandum against the ToR.
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MP CM Yadav announces credit cards, financial aid for cow keepers
Bhopal, Nov 2: The Madhya Pradesh government will provide credit cards to those rearing cows and their progeny, similar to those available to farmers, to help manage the upkeep of cattle, Chief Minister Mohan Yadav announced on Saturday.
“Along with the people growing crops, credit cards will also be made available to those rearing cows and their progeny to enable them to manage expenses on their care,” Yadav said during the state-level ‘Govardhan Puja’ ceremony at Ravindra Bhawan here.
He said that people who care for more than 10 cows will be given special financial aid, adding that the state government will invest and make arrangements for rearing 5,000 to 10,000 cows under the limits of municipal Corporations.
He said that people found guilty of slaughtering cows in MP will get seven years of imprisonment.
Earlier, he took part in the Govardhan Puja at his official house.
Later in Gwalior, where he attended two such events, Yadav said the state would protect the cow and its offspring.
Ministers and MLAs across the state also participated in Govardhan Puja.
Before holding this function at the state level, the BJP government in MP had organised ‘Shastra Puja’ (worshipping of weapons) on Dussehra in a similar manner, with the CM, his ministers and MLAs across the state joining in.
