List of Important Committees in India
In India, different committees are formed to look after various aspects of the Indian polity. As it is the seventh-largest in the area and second-largest in population, there are many aspects of Indian politics, economy, law, finance, corporate affairs, and all the other domains. In this article, we will discuss the list of important committees in India and their roles in Indian society and other domains.
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List of Indian Committees Formed with Purposes
Keep in mind that a committee is formed including the responsible persons as the head of it to find something, do research, and recommend the real facts to the Government of India. It entirely depends on the government whether the findings and recommendations of the committees will be accepted or not. Hence, it means that a committee is given a certain set of responsibilities to look after and to submit a report to the Central or State Government.
Let us take a quick look at the committees formed over the years in India and find their responsibilities of purposes.
Arun Goel Committee
This committee has been set to look after the aim that India has set to reach a USD 5 Trillion economy by improving the capital goods (CG) segment of the industrial foundation of India. This committee will also ensure that our country reaches the level of USD1 Trillion in the manufacturing sector.
Committee on TRP Ratings
This committee is set to supervise and monitor whether the television rating agencies are following the designated guidelines set by the authority. It is headed by Sashi S Vempati. It means that this committee is solely responsible for checking on the measures taken by the TV channels to gain TRP and ensure whether they are violating any law or not.
PK Mohanty Committee
Through this committee, the private sector banks in India are monitored in the domain of corporate structure and ownership guidelines.
Committee by All India Council for Technical Education (AICTE)
In this list of important committees and commissions in India, AICTE looks after the responsibilities of building professional engineer’s bills and makes sure all the educational institutions linked with engineering courses are following them. This is done to ensure the fresh graduates are following the ethical codes.
Market Data Advisory Committee (MDAC) by SEBI
This committee is formed to recommend the ideal policies according to the financial market to access and recognise data related to top securities markets. It also looks for the gaps in the market in terms of data needs and goals to set data privacy terms and conditions. The head of this committee is Madhabi Puri Buch.
One Man Committee to Prevent Stubble burning
Stubble burning is one of the main issues that are increasing the pollution level in India. Farmers get rid of the stubbles after harvest by burning them and eradicating the possibilities of any pest invasion. A one-man committee is formed to stop this practice as it harms the environment. This practice is followed by the farmers of Haryana, Uttar Pradesh, and Punjab.
Company Law Committee (CLC)
There are different aspects of the company laws followed in India in terms of ownership and liability. This committee is set to look into the matters of the LLP Act and Companies Act and make them better. These recommendations go to the National Company Law Tribunal (NCLT) for consideration.
Rajesh Pant Expert Committee
This committee looks after and evaluates the digital surveillance implications in accordance with the Data Information Technology Co. Limited. It also checks for the violations of laws and assesses them for recommendation under the supervision of the National Cyber Security Coordinator.
Rajiv Mehrishi Committee
This is one of the latest entries in the list of important committees and commissions in India as it looks after the effect of waiving of interests on the loans and other financial instruments due to the COVID-19 moratorium done by the government. This committee also provides suggestions regarding the financial constraints related to the different sections of society.
Pradip Shah Committee
This committee is responsible for the development of international retail business in the domain of the International Financial Services Centre (IFSC).
KV Kamath Committee
The KV Kamath Committee is set to restructure loans and to validate the resolution plans practised by the banks regarding the borrowing accounts that cross the directed threshold mandated by the government.
Ramesh Chand Committee
This committee was formulated to ensure that the rate of sugar is linked with that of the sugarcane produced in different states so that the industry can seek proper stability. This committee took major steps to clear the arrear of farmers growing sugarcane in different states.
Committee on Business Responsibility Reporting
This committee is headed by Rajesh Sharma, and it looks after the business reporting done by the companies as per the BRR formats. The companies, whether unlisted or listed, will have to follow the format designated by this BRR committee.
Committee For Analysis of QR Code
This committee is headed by Prof. D. B. Pathak, and it reviews the present QR code system that enables digital payment. It also submits recommendations to make this digital domain for payments better.
SEBI’s advisory committee on mutual funds
The Securities and Exchange Board of India (SEBI), the statutory regulatory authority, regulates the capital and securities market of India. It also takes care of the interests of the investors by formulating and revising guidelines and regulations. It also develops and regulates the industry of mutual funds for better investment plans and payouts.
Abhijeet Sen Committee
Headed by Abhijeet Sen, this committee takes care of a plethora of commissions such as the Commission for Agricultural Costs and Prices, the High-Level Committee on Long Term Grain Policy, and the Tenth Plan Subgroup on Agricultural Economics and Rural Development. It basically formulates policies related to food in the long term.
Chakravarty Committee (1985)
This committee was formed under the supervision of Prof. Sukhamoy Chakravarty in the year 1985 to understand and assess the functioning of the monetary system of India. The prime aim of this committee was to improve the regulatory norms of the Indian monetary system. It was formed to stabilise the pricing across industries for making India’s economy stronger.
Abid Hussain Committee
Prof. Abid Hussain, one of the eminent scientists and reformers, chaired this committee to cover the reforms of trade policies. He was also the head of the CSIR Review Committee for the Development of Science and Technology. In fact, this committee also covered the domains of Textile Policy, Small Scale Industry, and the Development of Capital Market.
JJ Irani Committee
Dr. JJ Irani, Tata Sons-Director, chaired this committee on 2nd December 2004 to advise the Government of India to revise the clauses of the Companies Act 1956. This entry in this list of important committees in India takes care of the corporate laws mentioned in the Indian Law and check compatibility from time to time.
Kelkar Committee
This committee was formed to evaluate the public-private partnership (PPP) model. The members of this committee were introduced to brainstorm the clauses under the supervision of Vijay Kelkar. All the members were chosen and appointed by the Government of India in 2015.
Raja Chelliah Committee
Dr. Chelliah is considered to be one of the prime pillars of India’s liberalization, privatization, and globalization step taken during 1991-93. Under his supervision, this committee revised and reduced the import duties to ensure the inflow of investment from other countries and to escalate the efficiency level of businesses in India.
McKinsey Report
McKinsey, a private consultant, formed a committee to initiate the merging process of seven associate government banking institutions with the State Bank of India. It was done by following the recommendation of this consulting agency in 1995.
These are the important entries in the list of important committees in India to study and remember for answering the questions asked in the government selection exams. Follow the information and reasons for forming these commissions and committees in India and make a chart to remember it properly.
FAQs on Committees and Commissions of India
1. Why should you study the list of committees and commissions formed in India?
Remarkable changes were brought by these committees and commissions mentioned in this article. These changes brought excellent transformation in the relevant spheres and took India’s economy and other aspects to the next level. These government and private entities researched, assessed, and analyzed the contemporary situations and recommended solutions with apt data to consider. These recommendations were followed by the Government of India to bring such changes.
2. What are liberalization, privatization, and globalization in India?
Liberalization, privatization, and globalization (LPG) in India is the significant step taken by the Government of India in 1991 to let foreign investment and companies enter the subcontinent. New economic policies were formed to relax the clauses regarding economic activities related to foreign investment, import-export, tariff, etc. This step revolutionized the status of the Indian economy and resulted in a huge transformation of the entire country’s financial condition.
