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The 16th Finance Commission headed by Arvind Panagariya on Tuesday set up a five-member Advisory Council to help broaden the Commission’s ambit.

The five-member panel would be headed by Poonam Gupta, Director General of the National Council of Applied Economic Research (NCAER). 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 that to help broaden the Commission’s ambit and understanding by seeking the best national and international practices on matters pertaining to fiscal devolution and improving the quality, reach, and enforcement of its recommendations.

Besides, the panel will assist in the preparation of papers or research studies and monitor or assess studies commissioned by the Finance Commission, thereby enhancing the commission’s understanding of the issues in its terms of reference.