Fiscal council needed

It will improve policy management

The Union government this week informed Parliament there was no plan to set up a fiscal council as recommended by the Fifteenth Finance Commission and the Fiscal Responsibility and Budget Management (FRBM) review panel, among others. The government argued that existing institutions, such as the Comptroller and Auditor General of India, the Finance Commission, and the National Statistical Commission were performing some or all the functions proposed for such a council. The government would be well advised to review its position and closely look at the arguments made by successive Finance Commissions and the FRBM review panel. Given the state