The Planning Commission was an institution in the Government of India which formulated India's Five-Year Plans, among other functions.
The National Security Council (NSC) of India is an executive government body tasked with advising the prime Minister of India on matters of national security and foreign policy. It was established by the former prime minister of India Atal Bihari Vajpayee on 19 November 1998, with Brajesh Mishra as the first National Security Advisor.
The Finance Commissions are commissions periodically constituted by the President of India under Article 280 of the Indian Constitution to define the financial relations between the central government of India and the individual state governments. The First Commission was established in 1951 under The Finance Commission Act, 1951. Fifteen Finance Commissions have been constituted since the promulgation of Indian Constitution in 1950. Individual commissions operate under the terms of reference which are different for every commission, and they define the terms of qualification, appointment and disqualification, the term, eligibility and powers of the Finance Commission. As per the constitution, the commission is appointed every five years and consists of a chairman and four other members.
Bibek Debroy is an Indian economist, serving as the chairman of the Economic Advisory Council to the Prime Minister of India. He is also the Chairman of the Finance Ministry's 'Expert Committee for Infrastructure Classification and Financing Framework for Amrit Kaal'. Debroy has made significant contributions to game theory, economic theory, income and social inequalities, poverty, law reforms, railway reforms and Indology among others. Bibek Debroy's recent co-authored magnum opus, Inked in India, stands distinguished as the premier comprehensive documentation, capturing the entirety of recognized fountain pen, nib, and ink manufacturers in India.
An ex officio member is a member of a body who is part of it by virtue of holding another office. The term ex officio is Latin, meaning literally 'from the office', and the sense intended is 'by right of office'; its use dates back to the Roman Republic.
Nand Kishore Singh is an Indian politician, economist and former Indian Administrative Service officer. He is a senior member of the Bharatiya Janata Party (BJP) since March 2014 after having served as a Member of Parliament in the Rajya Sabha (2008-2014) from Bihar for the Janata Dal (United). He has been a senior bureaucrat, Member of the Planning Commission and handled assignments of Union Expenditure and Revenue Secretary. He was also Officer on Special Duty to Prime Minister Atal Bihari Vajpayee.
Arvind Panagariya is an Indian economist who is also holding the position of Jagdish Bhagwati, the Director of Deepak and Neera Raj Center on Indian Economic Policies at School of International and Public Affairs at Columbia University in New York City. He served as first vice-chairman of the government of India think-tank NITI Aayog between January 2015 and August 2017. He has been appointed as the chairman of 16th Finance Commission by the government of India. He is a former Chief Economist of the Asian Development Bank. He was awarded the Padma Bhushan by the President of India in 2012 for his contributions in the field of economics and Public Policy.
Economic Advisory Council to the Prime Minister of India (PMEAC) is a non-constitutional, non-permanent and independent body constituted to give economic advice to the Government of India, specifically the Prime Minister. The council serves to highlight key economic issues facing the country to the government of India from a neutral viewpoint. It advises the Prime Minister on economic issues like inflation, microfinance, and industrial output.
The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) is an Act of the Parliament of India to institutionalize financial discipline, reduce India's fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget and strengthen fiscal prudence. The main purpose was to eliminate revenue deficit of the country and bring down the fiscal deficit to a manageable 3% of the GDP by March 2008. However, due to the 2007 international financial crisis, the deadlines for the implementation of the targets in the act was initially postponed and subsequently suspended in 2009. In 2011, given the process of ongoing recovery, Economic Advisory Council publicly advised the Government of India to reconsider reinstating the provisions of the FRBMA. N. K. Singh is currently the Chairman of the review committee for Fiscal Responsibility and Budget Management Act, 2003, under the Ministry of Finance (India), Government of India.
The National Development Council (NDC) or Rashtriya Vikas Parishad is the apex body for decision creating and deliberations on development matters in India, presided over by the Prime Minister. It was set up on 6 August 1952 to strengthen and mobilize the effort and resources of the nation in support of the Five Year Plans made by Planning Commission, to promote common economic policies in all vital spheres, and to ensure the balanced and rapid development of all parts of the country. The Council comprises the Prime Minister, the Union Cabinet Ministers, Chief Ministers of all States or their substitutes, representatives of the Union Territories and the members of the NITI Aayog.
Arvind Virmani is an Indian economist and full time Member of NITI Aayog. He was appointed India's representative to the International Monetary Fund in 2009. Prior to that, he was the Chief Economic Advisor to the Government of India.
Hasmukh Adhia, IAS is an Indian banker and a retired civil servant. He is one of the key persons behind the architecture and roll-out of the Goods and Services Tax & Demonetization scheme announced in 2016. He is an Indian Administrative Service (IAS) officer of the 1981 Gujarat cadre batch who served as Finance Secretary and Revenue Secretary of State. He previously served in several capacities for the Indian and Gujarat governments, including as Financial Services Secretary. He is the present Chairman of the boards of State public sector undertakings Gujarat Alkalies and Chemicals Limited (GACL) (GACL) and Gujarat Mineral Development Corporation Ltd(GMDC), GIFT City, standing committee of Pandit Deendayal Energy University, Gandhinagar and former Non-Executive Chairman of Bank of Baroda.A week after the government nominated him chairman of state-owned Bank of Baroda where he served till 29 February 2024 ,he was appointed as the Chancellor of Central University of Gujarat. Also, he serves as Chief Advisor to Gujarat Chief Minister in CMO from 2022 onwards.
The NITI Aayog serves as the apex public policy think tank of the Government of the Republic of India, and the nodal agency tasked with catalyzing economic development, and fostering cooperative federalism and moving away from bargaining federalism through the involvement of State Governments of India in the economic policy-making process using a bottom-up approach. Its initiatives include "15-year road map", "7-year vision, strategy, and action plan", AMRUT, Digital India, Atal Innovation Mission, Medical Education Reform, agriculture reforms, Indices Measuring States’ Performance in Health, Education and Water Management, Sub-Group of Chief Ministers on Rationalization of Centrally Sponsored Schemes, Sub-Group of Chief Ministers on Swachh Bharat Abhiyan, Sub-Group of Chief Ministers on Skill Development, Task Forces on Agriculture and up of Poverty, and Transforming India Lecture Series.
Amitabh Kant is presently India's G20 Sherpa. He is an Indian bureaucrat and the former chief executive officer of NITI Aayog, a public policy think tank of the Government of India. He is a retired member of the 1980 Indian Administrative Service (IAS) batch, the central civil service of the Government of India.
The Fifteenth Finance Commission is an Indian Finance Commission constituted in November 2017 and is to give recommendations for devolution of taxes and other fiscal matters for five fiscal years, commencing 2020-04-01. The commission's chairman is Nand Kishore Singh, a senior member of the Bharatiya Janata Party (BJP) since March 2014, with its full-time members being Ajay Narayan Jha, Ashok Lahiri and Anoop Singh. In addition, the commission also has a part-time member in Ramesh Chand.
Rajiv Kumar is an Indian economist who had served as the second vice-chairman of the NITI Aayog. He also serves as the chancellor of Gokhale Institute of Politics and Economics, Pune. His earlier stint in government was initially with the Ministry of Industry and subsequently in the Ministry of Finance, as economic advisor during the reform years of 1991-1994. He has wide experience of having worked in government, academia, industry associations, as well as in international financial institutions. He also served as an independent director on the central boards of the Reserve Bank of India and the State Bank of India.
Ajay Narayan Jha (born 15 January 1959; IAST: Ajaya Nārāyaṇa Jhā) is a 1982 batch Indian Administrative Service (IAS) officer of Manipur cadre. He was the Finance Secretary of India for three months. He was appointed as the member of Fifteenth Finance Commission of India in place of Shaktikanta Das and served there till 26 November 2023. Thereafter, he was appointed as a member of Sixteenth Finance Commission on 1 January 2024.
The Parliamentary Standing Committee on Finance (SCOF) is a department related standing committee (DRSC) constituted by the Parliament of India comprising selected members of parliament for the purpose of legislative oversight on the policies and decision making of the following four ministries:
- Ministry of Finance (MoF)
- Ministry of Corporate Affairs
- Ministry of Statistics and Programme Implementation
- NITI Aayog
Ministry of Planning is a ministry in India. The minister responsible is the Hon'ble Prime Minister of the Republic of India. The ministry's institutional capacity is exercised through the central agency: NITI Aayog.
