The Hindu : Rangarajan may head 12th Finance Commission

Online edition of India's National Newspaper
Sunday, Jul 21, 2002

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Rangarajan may head 12th Finance Commission

By Our Special Correspondent

NEW DELHI JULY 20. The Andhra Pradesh Governor, C. Rangarajan, is likely to head the 12th Finance Commission which is to be constituted shortly. His term as Governor is coming to an end in November.

The Commission, a statutory body set up under Article 280 of the Constitution by the President, allocates the share of resources between the Centre and States over a five-year period. The previous Commission was set up in July 1998 and it submitted its report in June 2000, covering the allocation of resources for 2000-05. Dr. Rangarajan was Planning Commission member and then the Governor of the Reserve Bank before moving to the Andhra Pradesh Raj Bhavan in November 1997.

He was also the Chairman of the National Statistical Commission.

A notable change in the 12th Finance Commission would be the active involvement of the Planning Commission. So far, the plan panel has had no role in the Finance Commissions though it is also involved in devolution of funds from the Centre to the States.

The Union Finance Minister, Jaswant Singh, is understood to have accepted the suggestion of the Planning Commission Deputy Chairman, K.C. Pant, to associate the plan panel with the Commission, but it is not yet clear whether its members would also be made the Finance Commission members.

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