Centre not in favour of setting up fiscal council
The central government has expressed unwillingness to set up a fiscal council as was suggested by the different finance commissions. The 13th, 14th and 15th finance commissions had suggested to set up an independent fiscal council to assess and monitor fiscal policy, effective implementation of fiscal rules and strengthening of fiscal performance. Disagreeing with the suggestion, Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha that institutions such as the Comptroller and Auditor General of India, the National Statistical Commission, the finance commission are already performing some or all of the roles proposed for the fiscal council.
