National Institute of Public Finance and Policy means

Posted on 10 June 2022 Category : Indian Tax Terms

What is National Institute of Public Finance and Policy

This post explains about National Institute of Public Finance and Policy.

The National Institute of Public Finance and Policy

The National Institute of Public Finance and Policy (NIPFP) is a centre for research in public economics and policies. Founded in 1976, the institute undertakes research, policy advocacy and capacity building in areas related to public economics. One of the major mandates of the institute is to assist the Central, State and Local governments in formulating and reforming public policies by providing an analytical base. The institute was set up as an autonomous society, at the joint initiative of the Ministry of Finance, Planning Commission, several State governments and distinguished academicians. It is registered under the Societies Registration Act, 1860.

In its 40 years of existence, the institute has emerged as a premier think tank in India, and has made significant contribution to policy reforms at all levels of the government. It has maintained close functional links with the Central and State governments all along, and has built up linkages with other teaching and research institutions both in India and abroad. Although the institute receives an annual grant from the Ministry of Finance, Government of India, and various State governments, it maintains an independent non-government character in its pursuit of research and policy.

The governing body of NIPFP comprises of three representatives of the Ministry of Finance, one representative of the Planning Commission of India, one representative of the Reserve Bank of India, three representatives of sponsoring State governments, three distinguished economists, three heads of sister research institutions, and members of other sponsoring agencies and invitees. At present, Dr. Vijay Kelkar, former Chairman of the Thirteenth Finance Commission, is the Chairman of the Governing Body.

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