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This File was last Updated/Modified: November 03 2014 16:55:09.Working Group for the formulation of Tenth Five Year Plan (2002-2007).

Savings

Dated 10th January 2001

Composition:

1. Dr. Y.V.Reddy, Deputy Governor, Reserve Bank of India, Mumbai Chairman
2. Prof V.N.Pandit, Delhi School of Economics, Delhi University Member
3. Dr. Ashok Lahiri, Director, National Institute of Public Finance and Policy New Delhi Member
4. Dr. Pronab Sen, Adviser (PP), Planning Commission, New Delhi Member
5. Dr. N.J.Kurian, Adviser (FR) Planning Commission, New Delhi Member
6. Dr. Arvind Virmani, Senior Adviser, Department of Economic Affairs, Ministry of Finance, New Delhi Member
7. Sh. A.C.KulsIucshtha, Deputy Director General, Central Statistical Organisation, New Delhi Member
8. Shri P.K. Choudhury, Managing Director, ICRA, New Delhi Member
9. Dr. R.B.Burmaru Executive Director, Reserve Bank of India Mumbai Member Secretary

Terms of reference :

  1. to estimate domestic private savings and each of its components, and inter linkages between them, if any.
  2. to estimate domestic private savings in physical assets and each of the different components of financial assets keeping in view the likely developments in the areas of provident and pension funds and the insurance sector.
  3. to examine the relative merits of various instruments of financial savings, in particular those relating to small savings.
  4. to estimate own surplus of Financial Institutions.
  5. to estimate public sector's draft on private savings keeping in view the needs of fiscal sustainability and commitments under the Fiscal Responsibility legislation.
  6. to estimate the amount of external aid from multilateral and bilateral sources, separately for loans and grants.
  7. to assess the flows of foreign direct investment and portfolio investments comprising equity and non-equity components.
  8. to estimate the magnitude of external commercial borrowings including suppliers' credit; and
  9. to suggest measures to increase the rate of domestic savings and attract larger flows of foreign savings.

The Chairman of the Working Group may constitute Sub-Groups and/or co-opt additional members as may be considered necessary.

The expenses towards TA/DA of the official members in connection with the meetings of the Working Group will be borne by the respective Offices. Non-Official Member will be entitled to TA/DA as admissible to Grade I Officers of the Government of India and this Expenditure will be paid by the Planning Commission.

The Working Group shall submit its report by June 2001