Commissions/Committees & Their Purpose

  Commissions/Committees & Their Purpose
Arjun Sen Gupta   Public Sector Enterprise Autonomy
Rangarajan Committee   Disinvestment of PSUs & Balance of Payments.
Malhotra Committee   Insurance Sector & its regulation. Follow up led to setting up of IRDA.
Madhukar Committee   Gold exchange traded fund implementation.
L.C. Gupta Committee   Derivatives in India Model
Naresh Chandra Committee   Corporate Audit & Governance
JJ Irani Committee   Company Law
B. Bhattacharya Committee   Committee on pension reforms
Rakesh Mohan Committee   Small saving & Administered interest rates
Vijay Kelkar Committee   FRBM  (fiscal responsibility & budget management) Act implementation
S.P. Gupta Committee   Generation of Employment opportunities in the 10th plan.
Raghvan Committee   Replacement of MRTP act by competition act.
Eradi Panel   Industrial Insolvency.
M.S. Verma   Restructuring weak banks
Lakdawala Committee   Estimating Poverty line in India
Montek Singh Ahuluwalia   Power Sector reforms
Rakesh Mohan Committee   Development of Infrastructure in India
Abid Hussain Committee   Small Scale Sector
Jha Committee   MODVAT
Vasudev Committee   NBFC
Omkar Goswami Committe   Industrial Sickness
G.V. Ramakrishna   Disinvestment Commission
Arvind Virmani   Import Tariff Reform
Vaghul Committee   Money Markets India reforms


Violation of FERA was a criminal offence. Violation of FEMA is a civil wrong.
Offences under FERA were not compoundable. Offences under FEMA are compoundable.
Penalty was 5 times the amount involved. Penalty is 3 times the sum involved.
Citizenship was a criteria to determine residential Stay in India for more than 182 days is the
status of a person under FERA. criteria to decide residential status.
There was only one Appellate Authority namely There are two appellate authorities namely
Foreign Exchange Regulation Appellate Board. 1. Special Director (Appeals) and
  2. Appellate Tribunal for Foreign Exchange.




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