New Delhi: The Sixteenth Finance Commission headed by Arvind Panagariya on Tuesday set up a five-member advisory council to help broaden the scope of the commission.

The five-member panel will be headed by Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER).

The other members of the panel are DK Srivastava, Neelkanth Mishra, Pranjul Bhandari and Rahul Bajoria, an official statement said.

Referring to the role and functions of the Advisory Council, the statement said it seeks to broaden the scope and understanding of the Commission by seeking best national and international practices on matters related to fiscal transfers and improving the quality, reach and implementation of its recommendations. Helping to create.

In addition, the Panel will assist in the preparation of papers or research studies and monitor or evaluate studies commissioned by the Finance Commission, thereby enhancing the Commission's understanding of the issues in its context.