Prime Minister Approves the Constitution of the Expenditure Management Commission; Dr. Bimal Jalan, Former Governor, RBI to Head the Commission

The Prime Minister has approved the constitution of the Expenditure Management Commission. This was announced by the Finance Minister in his Budget Speech 2014-15. The Commission will be headed by Dr. Bimal Jalan, former Governor, RBI, with Shri Sumit Bose, former Finance Secretary and Dr. Subir Gokarn, Eminent Economist as members. Additional Secretary, Department of Expenditure, Ministry of Finance, will be an ex-officio member and a senior officer with finance/expenditure experience will be Member-Secretary. The detailed Terms of Reference of the Expenditure Management Commission will be notified separately. The Commission is expected to submit its interim report before the Budget of 2015-16 and its final report before the Budget of 2016-17.