NIPFP

Subject: Economy

Context:

Mr.Urjit Patel was appointed as chairman of India’s premier economic think tank National Institute of Public Finance and Policy (NIPFP),

Concept:

• 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.
• 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 Revenue Secretary, Economic Affairs Secretary and the Chief Economic Advisor from the Union Finance Ministry, besides representatives from NitiAayog, RBI and three state governments