NK Singh Current Affairs

Union Government Constitute NK Singh Committee to review FRBM Act

The Union Government has constituted a five member committee to comprehensively review and give recommendations on the Fiscal Responsibility and Budget Management (FRBM) roadmap for the future.

Composition: The committee will be headed by Former Revenue Secretary and Rajya Sabha MP, NK Singh. Its members are former Finance and Revenue Secretary Sumit Bose, Chief Economic Adviser (CEC) Dr. Arvind Subramanian, Deputy Governor of RBI Urijit Patel and Director of National Institute Public Finance and Policy (NIPFP) Rathin Roy.

The committee was constituted as per the announcement made by the Union Finance Minister Arun Jaitley in his 2016-17 Budget speech. It will submit its Report to the Union Government by the 31st October, 2016.

Terms of Reference of the Committee

  • Review the working of the FRBM Act, 2003 over last 12 years and suggest the way forward.
  • The suggestions should be submitted keeping in view the broad objective of fiscal consolidation and prudence and the changes required in the context of the uncertainty and volatility in the global economy
  • Look into various factors, aspects, considerations going into determining the FRBM targets
  • Consider the possibility of replacing absolute fiscal deficit targets with a target range that may be adjusted in line with the overall credit trends in the economy.
  • Examine the need and feasibility of aligning the fiscal contraction and expansion with credit expansion or contraction respectively in the economy.

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Former bureaucrat NK Singh selected for Japan’s highest civilian award

Former bureaucrat and parliamentarian Nand Kishore Singh has been selected for prestigious ‘Order of the Rising Sun, Gold and Silver’, Japan’s highest civilian award.

He was chosen for this prestigious award for promoting economic, educational and cultural ties between India and Japan.

He is among 91 foreign recipients to be honoured during the 2016 Spring Imperial Decoration of Japan by Emperor Akihito during the investiture ceremony in May 2016.

About Nand Kishore Singh

  • N K Singh is a politician, economist and former Indian Administrative Service officer (IAS) from Bihar cadre.
  • He had served as a Member of Parliament in the Rajya Sabha (2008-2014) from Bihar.
  • As a bureaucrat, he had served as Member Planning Commission and handled assignments of Union Expenditure and Revenue Secretary and Additional Secretary Economic Affairs.
  • He was also Principal Secretary to Prime Minister A.B. Vajpayee. He was also connected with International organisations like World Bank, IMF and UNDP.
  • He also had served as the former Chairman, Board of Governors of Management Development Institute (MDI), Gurgaon.

About Order of the Rising Sun

It is a Japanese Government highest civilian established in 1875 by Emperor Meiji. It is conferred in recognition of distinguished accomplishments of an individual. The modern version of the order is being given to non-Japanese recipients from 1981.

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