Standing committees in India were institutionalised in 1993, primarily aiming to improve parliamentary efficiency. The standing committee on finance, in particular, holds the government accountable for its fiscal decisions and provides recommendations that ensure sound economic governance
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- The standing finance committee is vital in overseeing critical aspects of fiscal policy
- The committee is instrumental in bridging the gap between policy design and implementation
- The Preamble of our Constitution guarantees every citizen ‘economic democracy’
In the complex machinery of Indian democracy, Standing Committees of Parliament serve as the institutions, working quietly behind the scenes to ensure that legislations are scrutinised and policies are fine-tuned before implementation. Among these, the standing finance committee is particularly vital, overseeing critical aspects of fiscal policy, government spending, and economic reforms. With India's diverse and dynamic economy, the significance of these committees cannot be overstated.
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