Commissions/Committees & Their Purpose

 Commissions/Committees & Their Purpose
Arjun Sen Gupta Public Sector Enterprise Autonomy
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


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 residentialStay 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 namelyThere 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.


  1. 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.


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


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


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


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


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


  1. 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.


  1. Prevent and control communicable diseases.


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


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


  1. Bring about convergence in implementation of related social sector programs so that family welfare becomes a people centred programme.
 Selected Terms
Revenue DeficitDifference between revenue expenditure & revenue receipts
Budget DeficitDifference between total expenditure & revenue receipts
Fiscal DeficitBudget deficit plus non debt creating capital receipts
Primary DeficitFiscal deficit – Interest Payments.
FIPBForeign Investment Promotion Council
MIGAMultilateral Investment Guarantee Agency



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