Ex-finance commission panel chiefs raise key economic issues
NEW DELHI: Two former finance commission chiefs N K Singh and Vijay Kelkar have raised key issues that policymakers need to address in the coming years to deal with changes in the economy.Kelkar, who headed the 13th Finance Commission, underlined the need to rationalise the GST structure and move to a single rate mechanism, something that was recommended by the panel ahead of the key tax reform.Besides, he has recommended sharing GST receipts with the third tier - panchayats and municipal bodies - while also calling for the secretariat to be made independent of the finance ministry.While rationalisation of rates has been discussed in the GST Council in the past, the current thinking is not in support of a single rate structure. A discussion on the issue is expected to take place after the...