 "Finance ministry")
Over 20 years ago, then finance minister Jaswant Singh formed a committee led by Vijay Kelkar, resulting in a report titled “A Ministry of Finance (MoF) for the 21st Century.” That report remains a key starting point for thinking about building a sound MoF.
Finance is the brain of the economy, and the MoF is the brain of the Union government. The researcher Philipp Krause has described the emergence of state capability in the MoF as rising from a more transactional role (the plumbing and accounting of moving money on the expenditure side) to a more policy role.
A sophisticated
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
