15th Finance Commission to form panel on fiscal situation of Centre, states

"We have decided to constitute a fiscal committee, which will address one particular recommendation contained in our terms of reference regarding a legal framework for the fiscal architecture," Singh

The Fifteenth Finance Commission will soon form a panel to examine the fiscal situation and the debt road map for the Centre and states, similar to the erstwhile Fiscal Responsibility and Budget Management (FRBM) committee, the Commission’s Chairman N K Singh said on Thursday. Singh said the idea wasn’t to recommend a new law but to examine to what extent do the Centre and states adhere to the FRBM Acts at their level, and what more they need to do.
 
“We have decided to constitute a fiscal committee, which will address one particular recommendation contained in our terms of