The newly-constituted Expenditure Management Commission (EMC) appointed by the National Democratic Alliance government will look to review major areas of central government spending and suggest ways to improve fiscal discipline and create more space for spending development projects, the Finance Ministry has said.
The newly-constituted Expenditure Management Commission (EMC) appointed by the National Democratic Alliance government will look to review major areas of central government spending and suggest ways to improve fiscal discipline and create more space for spending development projects, the Finance Ministry has said.
The announcement of the EMC was made by Finance Minister Arun Jaitley during the July budget.
The EMC whose chairman (currently former RBI governor Bimal Jalan) will enjoy union-minister status, will also have a mandate to review the rules pertaining to the Fiscal Responsibility & Budget Management (FRBM) Act.
Also read: Bimal Jalan to head govt's panel on expenditure management
One the poll promises of the Bhartiya Janata Party, whose NDA coalition swept to power on a historic mandate this May, was to review government spending, which had increasingly tilted towards greater subsidies and more revenue expenditures in the past several years.
The Finance Ministry said it expects the EMC to get full support from state governments.
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