Tale of Two Commissions ..Planning and FInance

Dr YV Reddy has a nice speech on the topic. It is a comprehensive review of how the two commissions have evolved over the years.

PC is obviously no more but FC is here to stay:

There have been several missing links in the recent debate on the future of the Planning and Finance Commissions. First, it is not clear whether the debate was more about the future of planning or about the future of the Planning Commission. How do the proposals for institutional reform fix the problems relating to the process of planning and implementation? Second, there are emerging new realities of economic management that the new institution has to grasp and address, requiring new skills and, perhaps, a new set of instruments. Third, both the commissions operate in a multilevel context, namely, union, states and local bodies. Institutional reform has to be contextualised to multilevel processes.

I have narrated here a tale of two commissions. One of them, namely the Finance Commission, will move on. The life of the other – the Planning Commission – has ended. The challenge is to craft the beginnings of a tale of a new institutional set-up. Economists have a role, not a predominant one but certainly an important one, in crafting a new set-up to replace and improve upon the Planning Commission.

Nice stuff..

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One Response to “Tale of Two Commissions ..Planning and FInance”

  1. udaydoddavarapu Says:

    good link n nice stuff. Thank u sir

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