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Informist, Saturday, Nov. 30, 2024

 

NEW DELHI - The Parliamentary Standing Committee on Finance has selected 22 subjects for examination in 2024-25 (Apr-Mar), with a review of the performance of the Securities and Exchange Board of India and the Indian banking and insurance sectors among them.

 

Some of the other key subjects listed by the committee for examination include tax reforms, the roadmap to becoming a $5 trillion economy, and a review of the long-term public finances and debt at the central and state levels.

 

Led by the Bharatiya Janata Party leader Bhartruhari Mahtab, the Standing Committee on Finance consists of 31 members, with 21 from the Lok Sabha and 10 from the Rajya Sabha, and includes former finance minister P. Chidambaram. The committee examines matters related to the finance ministry as well as the Ministry of Corporate Affairs, NITI Aayog, and the Ministry of Statistics and Programme Implementation. 

 

As such, the committee will also undertake a performance review of the National Statistical Commission, the role of the NITI Aayog in appraising the performance of central government schemes and programmes and preparing roadmaps for different sectors of the economy, and the Reserve Bank of India's "evolving role in India's dynamic economy", a notification on the Lok Sabha website said late Friday. 

 

Other parts of the government whose performance will be reviewed include the National Bank for Agriculture and Rural Development and Small Industries Development Bank of India. The other subjects on the standing committee’s agenda are a review of the non-banking financial companies, gaps in their regulation, and the way forward for them. 

 

Also in focus will be financial digitalisation, functioning of grievance redressal mechanisms in the financial sector, a review of the Insolvency and Bankruptcy Code, the changing role of the Competition Commission of India particularly in the digital landscape, social security for the informal sector, monetisation of public sector assets, the role of environmental, social, and governance and corporate social responsibility in enhancing corporate valuation, initiatives to promote green financing and sustainable investments in India, and public financial management and capital expenditure.  End

 

Reported by Kuldeep Singh

Edited by Deepshikha Bhardwaj

 

 

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