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The Modi-led Government has asked Bimal Jalan headed Expenditure Management Commission to suggest an effective strategy for meeting reasonable proportion of expenditure on services through user charges.
It has also asked the Jalan panel to review the fiscal responsibility and budget management (FRBM) rules to suggest improvements for enforcing better fiscal discipline.
Also, the newly set up commission will have to review the major areas of Central Government expenditure and suggest ways for creating fiscal space required to meet developmental expenditure needs.
This has to be done without comprising the commitment to fiscal discipline, the terms of reference of the Commission said.
Bimal Jalan, who has been conferred with the status of a Union Cabinet Minister, has been asked to design a framework to improve the operational efficiency of expenditures through focus on utilisation, targets and outcomes.
The Jalan panel has also been asked to suggest measures to achieve reduction in financial costs through better cash management system.
Besides asking the Commission to suggest greater use of IT tools for expenditure management, the panel has also been asked to recommend improved financial reporting systems in terms of accounting and budgeting etc.
The Commission, which will be headquartered in New Delhi, will have to submit an interim report before Budget 2015-16.
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