Former Reserve Bank of India Governor Bimal Jalan was on Tuesday named the chairman of the Expenditure Management Commission. The new initiative was unveiled in Finance Minister Arun Jaitley's Budget speech to improve the efficacy of the government spending in order to achieve maximum output. The 72-year-old Jalan was appointed to the post by Prime Minister Narendra Modi. Subir Gokarn, a former Deputy Governor of the RBI, was named a member of the Expenditure Management Commission, which was given 18 months to submit its report..........
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