Urjit Patel as chairman of NIPFPApprox Read Time: 5 minutes
- Urjit Patel has been appointed as the chairman of the National Institute of Public Finance and Policy (NIPFP).
- He replaces former bureaucrat Vijay Kelkar, who chaired NIPFP for almost six years.
In Focus: National Institute of Public Finance and Policy (NIPFP)
- The National Institute of Public Finance and Policy (NIPFP) is a centre for research in public economics and policies and is India’s premier economic think tank.
- It was founded in 1976, as an autonomous body set up jointly by the Ministry of Finance, the erstwhile Planning Commission, and several state governments and distinguished academicians.
- It is registered under the Societies Registration Act, 1860.
Main Functions of NIPFP:
- The institute undertakes research, policy advocacy and capacity building in areas related to public economic and advises the Central and the state governments of India.
- The institute receives an annual grant from the Ministry of Finance, Government of India, and various State governments.
- Despite receiving annual grant from the Ministry of Finance, it maintains an independent non-government character.
Governing Body of NIPFP:
- The governing body of NIPFP comprises of the following:
- Three representatives of the Ministry of Finance including the Revenue Secretary, Economic Affairs Secretary and the Chief Economic Advisor.
- One representative of the Niti Aayog.
- One representative of the Reserve Bank of India.
- Three representatives of sponsoring State governments.
- Also distinguished economists and members of other sponsoring agencies and invitees.
NIPFP’s Chairman’s Role:
- The NIPFP chairman’s role is advisory in nature and he does not interfere in day today functioning of the institution.
- He chairs the board meetings which are held at least three to four times in a year.
- The institute has made significant research contribution in the area of-
- Revenue and taxation
- Fiscal management
- Public expenditure
- Macro-economic policies
- Fiscal federalism
- Other public finance and policy issues both at the Central and the State-level
- Most of the studies are undertaken at the instance of Central and State governments in India, and bilateral and multilateral lending institutions.
- The institute has also undertaken research for a few other countries at the request of the Government of those countries.
Other Activities of NIPFP:
- Apart from the research publications, NIPFP also organizes conferences on issues like growth and stability; fiscal policies for gender equality etc.