New Task Force to be set up

Speaking on expenditure reforms Shri Mukherjee said that expenditure has to be oriented towards the production of public goods and services. Recognising the importance of service sector and the knowledge economy for the development of our country, a Committee under Dr. C. Rangarajan has been set up by the Planning Commission to look into the extant classification of public expenditure between Plan, non-Plan, Revenue and Capital spending.

In order to enable the common man to have better access to fuel and food grains subsidies, the Government will move towards direct transfer of cash subsidy to people living below poverty line in a phased manner. A Task Force headed by Shri Nandan Nilekani has been set up to work out direct transfer of subsidy for Kerosene, LPG and Fertilizers. The system will be in place by March, 2012, Shri Mukherjee said.

Source : Equity Bulls

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