Specialized Advisory body: The IFC can act as a specialized advisory body for the union government on its revenue projections, methods to bridge the fiscal deficit etc.
Creates credibility: The setting up of such body will create the financial and solvency credibility before the International organisations such as IMF.
Global best practice: The setting up of IFC has been a global best practice to move on the path of fiscal consolidation.
Way Forward
The need to setting up of such body has become overwhelming considering the recent debate about relaxing the fiscal targets to stimulate the slowing economy.
Moreover the recent recommendation of NK singh Committeesuch as replacing FRBM with Debt and fiscal responsibility act, shifting the focus from revenue and fiscal deficit to the debt as percentage of GDP, flexibility in fiscal consolidation etc. need to be implemented in letter and spirit.
Oil Companies Planning For Online Sale Of Diesel
In News
Inspired by the online and e commerce boom in the country PSUs oil marketing companies are planning to start online retailing of diesel to cater to the rural customers and commercial establishments helping them save time and improve their productivity.
The companies are awaiting a final safety approval from the Petroleum and Explosive Safety Organisation (PESO) before they start the online booking and delivery of diesel on the lines of delivery of LPG cylinders.
