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FinCom should use contemporary population data, say economists

Press Trust of India  |  New Delhi 

Economists today suggested to the to use contemporary population data and reward states for population stabilisation policy.

These views were expressed by economists during their interaction with the 15th here.

(Chief Economic Adviser), Pronab Sen (Country Director, International Growth Center), (Professor, Delhi School of Economics), N R (Professor, NIPFP), (FSI), (Deputy Director, Fiscal Affairs Department, IMF), Surjit S Bhalla (Part time Member of PMEAC), and (Honorary Professor, ICRIER) were among the economists who participated in the interaction.

They were also of the view that permissible limits on borrowings under fiscal consolidation roadmap needed to be equally applicable to centre and states in the context of overall macroeconomic framework, said a release of the Commission.

Economists, it said, agreed that it would be "realistic to use contemporary population data but weightage should be assigned to population and also rewards for population stabilization policy".

The rewards should be appropriately determined by the Commission, they said, adding the Commission needs to balance equity with efficiency.

The other issues that figured during the interaction, include abolition of Planning Commission, GST implementation, and matters related centrally sponsored schemes.

Commission's N K Singh said that continued engagement with domain experts over the coming months will help commission in firming up the approach before reaching tentative conclusions both on the vertical and horizontal devolution of revenue.

Besides an approach for local bodies and panchayats which were both realistic and would genuinely deliver the intended resources to the beneficiaries, he said.

Later, the Commission also held the first meeting with the to get inputs on various issues under the purview of the Commission.

These included political economy behind the Centrally Sponsored Schemes, their future and methods required for long term financing.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 20:55 IST