Prime Minister Narendra Modi Wednesday approved the setting up of the Expenditure Management Commission which will be headed by Bimal Jalan, former Reserve Bank of India governor, an official statement said here.
The commission is expected to submit its interim report before the 2015-16 budget and its final report before the 2016-17 budget.
The commission will look into various expenditure reforms taken by the government.
Finance Minister Arun Jaitley in his maiden budget speech 2014-15 announced the formation of this commission.
Sumit Bose, former finance secretary, and Subir Gokarn, eminent economist, are also members of this commission.
Additional secretary, department of expenditure, ministry of finance, will be an ex-officio member and a senior officer with finance/expenditure experience will be member-secretary, the statement said.