https://indianpedia.org/index.php?action=history&feed=atom&title=Expenditure_Management_CommissionExpenditure Management Commission - Revision history2026-07-30T14:38:33ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=Expenditure_Management_Commission&diff=280942&oldid=prev->BattyBot at 09:15, 10 December 20212021-12-10T09:15:45Z<p></p>
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The constitution of '''Expenditure Management Commission''' (EMC) of [[India]] was announced in the Budget Speech by Finance Minister of India [[Arun Jaitley]] in the budget of 2014–15.<ref name=thehindu1>{{cite web|last1=Mehra|first1=Puja|title=PM approves constitution of expenditure management panel|url=http://www.thehindu.com/news/national/bimal-jalan-to-head-expenditure-management-commission/article6312580.ece|website=The Hindu|accessdate=27 February 2015}}</ref> The Commission will be a recommendation body with the primary responsibility of suggesting major expenditure reforms that will enable the government to reduce and manage its [[fiscal deficit]] at more sustainable levels.<br />
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The EMC is a five-member body composed of the former [[Reserve Bank of India]] (RBI) [[Governor]] [[Bimal Jalan]], who has been appointed to head the Commission, former [[Finance Secretary]] Sumit Bose, former Deputy RBI Governor [[Subir Gokarn]] and two other members.<ref name=indiatoday1>{{cite web|title=Bimal Jalan to head Expenditure Management Commission|url=http://indiatoday.intoday.in/story/bimal-jalan-to-head-expenditure-management-commission/1/377174.html|website=India Today|accessdate=27 February 2015}}</ref><br />
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Despite the legal mandate intended to lower the Fiscal Deficit to 3 per cent within the stipulated time [[Fiscal Responsibility and Budget Management Act, 2003|Fiscal Responsibility and Budgetary Management Act, 2003]], India has witnessed a persistent high [[fiscal deficit]]. Subsidies, public services, underpricing and arbitrary [[natural resource]] allocation are government activities that have led to expenditures greater than revenue.{{Citation needed|reason=Reliable source needed for the whole sentence|date=February 2015}} <ref name=watal1>{{cite journal|last1=Watal|first1=Ratan|title=Constitute_Expenditure_Management_Commission|date=4 September 2014|url=http://finmin.nic.in/the_ministry/dept_expenditure/notification/misc/Constitute_Expenditure_Management_Commission.pdf|accessdate=27 February 2015}}</ref><br />
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The commission is mandated to evaluate proposals for reducing the three major subsidies (i.e. food, fertilizer and oil).<ref name=livemint1>{{cite web|last1=Mishra|first1=Asit|title=Former RBI head Bimal Jalan to head expenditure management commission|url=http://www.livemint.com/Politics/bME0YV5BaP2laNsVNVQHBO/Former-RBI-head-Bimal-Jalan-to-head-expenditure-management-c.html|website=Livemint|accessdate=27 February 2015}}</ref><br />
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The commission was to submit an interim report before the presentation of the Budget for 2015–16.<ref>{{Cite web|url=https://www.ndtv.com/business/emc-to-submit-interim-report-by-early-january-bimal-jalan-700084|title=EMC to Submit Interim Report by Early January: Bimal Jalan|website=NDTV.com|access-date=2019-04-16}}</ref>{{Update after|2015|2|27}} The final report was to be submitted before the 2016-17 budget.<ref>{{Cite web|url=https://www.ndtv.com/business/jalan-panel-on-expenditure-to-submit-report-this-month-1273270|title=Jalan Panel on Expenditure to Submit Report This Month|website=NDTV.com|access-date=2019-04-16}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/policy/government-examining-report-on-subsidy-rationalisation/articleshow/52145817.cms|title=Government examining report on subsidy rationalisation|date=2016-05-06|work=The Economic Times|access-date=2019-04-16}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/policy/niti-aayog-to-vet-performance-of-500-autonomous-bodies/articleshow/55129026.cms|title=Niti Aayog to vet performance of 500 autonomous bodies|last=Singh|first=Mahendra K.|date=2016-10-29|work=The Economic Times|access-date=2019-04-16}}</ref><ref>{{Cite news|url=https://timesofindia.indiatimes.com/city/delhi/More-steps-on-the-anvil-for-expenditure-efficiency-Lavasa/articleshow/52832693.cms|title=More steps on the anvil for expenditure efficiency: Lavasa - Times of India|date= 20 June 2016 |newspaper=The Times of India|access-date=2019-04-16}}</ref><br />
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==References==<br />
{{Reflist}}<br />
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[[Category:Government finances in India]]<br />
[[Category:Modi administration initiatives]]<br />
[[Category:2014 in Indian economy]]<br />
[[Category:Expenditure]]<br />
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