CHENNAI: The government announced on Friday that it will provide land and a corpus grant of Rs 5 crore for establishing a Centre for Public Finance, in the budget. Once set-up, the centre is expected to carry out intense research of fiscal policies of the State and the Centre.
“State governments now account for a larger share in overall public expenditure in India, and hence finance issues need to be studied in detail from the State perspective, and specifically Tamil Nadu,” Deputy Chief Minister O Panneerselvam said in his budget presentation.
He added that it is essential to obtain high quality policy advice from a dedicated institution. “Fiscal policy and sustainability at State level does not receive same importance as at the national level,” said Rangarajan, former director of National Institute of Public Finance and chairman of Madras School of Education (MSE). The proposed Centre for Public Finance will come up on the land adjacent to MSE’s present campus.ENS