The panel will have 20 members from the Lok Sabha and 10 from the Rajya Sabha.
Union Minister Ravi Shankar Prasad said that the proposed committee could bring out a report before the Budget session, which usually begins in the last week of January.
Defending the Constitution (126th) Amendment Bill, he asserted that quota in legislatures for SCs and STs was required to build a new political leadership of the two communities.
Prasad also said the appointment process in the judiciary needs to be fast-tracked.
Ravi Shankar Prasad said that the government is in the process of setting up 1,123 dedicated courts for POCSO and rape offences.
The minister said that there are suitable provisions under the IT Act and work is in progress to bring in a law for data protection.
Prasad, who holds portfolios of Law and Justice; Communications; Electronics and IT in the Union Cabinet, attacked Rahul Gandhi over his remarks on Rafale deal.
According to sources, an internal committee has cleared the TRAI base prices for all the bands and all processes are concurrently going on.
The minister said that 275 megahertz of radiowaves frequency between 3,300-3,400 Mhz and 3,425 to 3,600 Mhz band is available for 5G auction.
The saffron party also promised to provide Rs 5,000 to maximum number of farmers every year under the states Mukhya Mantri Krishi Ashirwad Yojana.
Opposition parties, including the Congress and the Shiv Sena, skipped a joint sitting of both Houses of Parliament on Constitution Day to mark their protest against the BJP.
Salcomp, the world's largest manufacturer and a major supplier of chargers to Apple for iPhone, has reached an agreement to take over closed facility of Nokia in a SEZ near Chennai.
Last month, the government approved a Rs 69,000 crore revival package for BSNL and MTNL that included merging the two loss-making firms.
Prasad noted that in 2018-19, 3,134 crore digital transactions were recorded, translating into y-o-y increase of 51 per cent.
Telcos have to pay Rs 1.47 lakh crore in past dues; no proposal to waive off interest, penalty: Prasad
The total debt of the telecom industry, service providers and tower companies combined, stood at Rs 7.87 lakh crore as on August 2017, he noted.