Commissions/Committees & Their Purpose

	Commissions/Committees & Their Purpose
Arjun Sen Gupta			Public Sector Enterprise Autonomy
Committee
Rangarajan Committee			Disinvestment of PSUs & Balance of Payments.
Malhotra Committee			Insurance Sector & its regulation. Follow up led to setting up of IRDA.
Madhukar Committee			Gold exchange traded fund implementation.
L.C. Gupta Committee			Derivatives in India Model
Naresh Chandra Committee			Corporate Audit & Governance
JJ Irani Committee			Company Law
B. Bhattacharya Committee			Committee on pension reforms
Rakesh Mohan Committee			Small saving & Administered interest rates
Vijay Kelkar Committee			FRBM  (fiscal responsibility & budget management) Act implementation
S.P. Gupta Committee			Generation of Employment opportunities in the 10th plan.
Raghvan Committee			Replacement of MRTP act by competition act.
Eradi Panel			Industrial Insolvency.
M.S. Verma			Restructuring weak banks
Lakdawala Committee			Estimating Poverty line in India
Montek Singh Ahuluwalia			Power Sector reforms
Rakesh Mohan Committee			Development of Infrastructure in India
Abid Hussain Committee			Small Scale Sector
Jha Committee			MODVAT
Vasudev Committee			NBFC
Omkar Goswami Committe			Industrial Sickness
G.V. Ramakrishna			Disinvestment Commission
Arvind Virmani			Import Tariff Reform
Vaghul Committee			Money Markets India reforms

 

FERA		FEMA
Violation of FERA was a criminal offence.	Violation of FEMA is a civil wrong.
Offences under FERA were not compoundable.	Offences under FEMA are compoundable.
Penalty was 5 times the amount involved.	Penalty is 3 times the sum involved.
Citizenship was a criteria to determine residential	Stay in India for more than 182 days is the
status of a person under FERA.	criteria to decide residential status.
There was only one Appellate Authority namely	There are two appellate authorities namely
Foreign Exchange Regulation Appellate Board.	1.	Special Director (Appeals) and
	2.	Appellate Tribunal for Foreign Exchange.

 

 

 

 

 

Fiscal Responsibility & Budget Management (FRBM) Act 2003

 

• The revenue deficit as a ratio of GDP should be brought down by 0.5 per cent every year and eliminated by 2007-08;

 

• The fiscal deficit as a ratio of GDP should be reduced by 0.3 per cent every year and brought down to 3 per cent by 2007-08;

 

• The total liabilities of the Union Government should not rise by more than 9 per cent a year;

 

• The Union Government shall not give guarantee to loans raised by PSUs and State governments for more than 0.5 per cent of GDP in the aggregate;

 

Population Policy 2000

 

The immediate objective of the NPP 2000 is to address the unmet needs for contraception, health care infrastructure, and health personnel, and to provide integrated service delivery forbasic reproductive and child health care. To bring the TFR to replacement levels by 2010. Stable population by 2045 at a level consistent with sustainable economic growth.

National Socio-Demographic Goals for 2010

 

1. Address the unmet needs for basic reproductive and child health services, supplies and infrastructure.

 

2. Make school education up to age 14 free and compulsory, and reduce drop outs at primary and secondary school levels to below 20 percent for both boys and girls.

 

3. Reduce infant mortality rate to below 30 per 1000 live births.
4. Reduce maternal mortality ratio to below 100 per 100,000 live births.

 

5. Achieve universal immunization of children against all vaccine preventable diseases.

 

6. Promote delayed marriage for girls, not earlier than age 18 and preferably after 20 years of age.
7. Achieve 80 percent institutional deliveries and 100 percent deliveries by trained persons.

 

8. Achieve universal access to information/counseling, and services for fertility regulation and contraception with a wide basket of choices.

 

9. Achieve 100 per cent registration of births, deaths, marriage and pregnancy.

 

10. Contain the spread of Acquired Immunodeficiency Syndrome (AIDS), and promote greater integration between the management of reproductive tract infections (RTI) and sexually transmitted infections (STI) and the National AIDS Control Organisation.

 

11. Prevent and control communicable diseases.

 

12. Integrate Indian Systems of Medicine (ISM) in the provision of reproductive and child health services, and in reaching out to households.

 

13. Promote vigorously the small family norm to achieve replacement levels of TFR.

 

14. Bring about convergence in implementation of related social sector programs so that family welfare becomes a people centred programme.

	Selected Terms
Revenue Deficit	Difference between revenue expenditure & revenue receipts
Budget Deficit	Difference between total expenditure & revenue receipts
Fiscal Deficit	Budget deficit plus non debt creating capital receipts
Primary Deficit	Fiscal deficit – Interest Payments.
FIPB	Foreign Investment Promotion Council
MIGA	Multilateral Investment Guarantee Agency