Indian benchmark indices closed flat on Monday
Mumbai, Dec 4 (IBNS): The Indian market closed flat on Monday, with BSE Sensex up 36.78 points at 32,869.72 and NSE Nifty rose 6 points to 10,127.80.
Top gainers were Infosys, HUL, HDFC, HCL Tech, Hindalco, Zee Entertainment,Tata Motors, Tata Steel and GAIL while UPL, Bhart Infratel, Coal India, Bajaj Finance, Maruti Suzuki, Asian Paints, Sun Pharma, Reliance and Ultra Tech Cement declined.
Meanwhile, the 15th Finance Commission, constituted on 27th of November 2017, held its first meeting on MOnday at North Block in New Delhi.
The meeting was held under the Chairmanship of N.K. Singh and was attended by all the other Members of the Commission i.e. Shaktikanta Das and Dr. Anoop Singh, as well as the part time Members Dr. Ashok Lahiri and Dr. Ramesh Chand.
The Commission held preliminary discussions on the Terms of Reference for the Fifteenth Finance Commission as per the Order made by the President of India and notified by the Ministry of Finance on 27th November, 2017.
The Commission was cognisant that it has been assigned wide-ranging Terms of Reference which needed to be suitably addressed. Towards this objective, it was felt that wide-ranging consultations with all stake holders including various Ministries of the Union Government, all State Governments, Local Bodies, Panchayats and political parties of each state government needed to be expeditiously initiated.
The Commission recognised that there was also need to undertake analytical papers, analysis from leading research organisations within the country and elsewhere to suitably address the Terms of Reference.
The Commission was keen to seek academic inputs and inter-actions with leading Think Tanks and domain knowledge experts which would assist the Commission in its work.
The Commission approved the setting-up of its office at Jawahar Vyapar Bhawan on Janpath in New Delhi.
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