Tamil Nadu forms panel under ex-RBI Guv Rangarajan to advise measures to bring economy back on track

By: |
Published: May 10, 2020 5:15 AM

The committee will include industry veterans like Venu Srinivasan, chairman, TVS motor company, N Srinivasan, vice-chairman & MD, India cements and A Vellayan, former chairman of Murugappa group.

The panel will formulate measures required to help the important sectors of the economy to overcome the impact of the Covid-19 pandemic.

The Tamil Nadu government on Saturday decided to set up high-level committee of economists and experts headed by R Rangarajan, former Reserve Bank of India (RBI) governor and ex-chairman of Prime Minister’s economic advisory council, to advise the state government on the medium-term policy response in the wake serious economic and fiscal challenges triggered by the covid-19 pandemic.

The committee will include industry veterans like Venu Srinivasan, chairman, TVS motor company, N Srinivasan, vice-chairman & MD, India cements and A Vellayan, former chairman of Murugappa group. Indian bank MD & CEO, Padmaja Chunduru, P N Vasudevan, MD & CEO, Equitas Small Finance Bank, M Govinda Rao, member 14th finance commission, and K R Shanmugam, director, Madras School of Economics are the other prominent members of the committee, among others. The committee will submit its final report within three months, said an official statement from the Tamil Nadu government.

The terms of reference of the panel include: access the overall immediate and medium-term impact of the covid-19 pandemic on different sectors of Tamil Nadu’s economy, including the impact of lockdown, additional costs and implications due to social distancing and other precautionary measures. It will access the opportunities and threats in short and medium terms.

The panel will formulate measures required to help the important sectors of the economy to overcome the impact of the Covid-19 pandemic. It will identify the specific reform measures to be taken the state government to support and promote the growth of important sectors of the economy. The committee will assess the impact of the crisis on state government’s fiscal situation and way forw-Your data has been truncated.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Rs 21 lakh crore package not enough! Economists pitch for second round of stimulus to mitigate pandemic impact
2Rising petrol, diesel prices: Modi’s tax hikes on retail fuel are putting brakes on economic recovery
3UK economic bounceback in May far slower than anticipated