..........It is to review major areas of central government expenditure and institutional arrangements, including the budgeting process and fiscal resposibility rules, “without compromising the commitment to fiscal discipline”. It will suggest measures to improve efficiencies in the existing expenditure classification system, including the focus on capital expenditure. The panel, to be headquartered in Delhi, will give an interim report before the Budget of 2015-16 and its final report before the Budget of 2016-17.........
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