The first meeting of the Revenue Augmentation Committee, recently constituted by the State government under the chairmanship of former Deputy Chairman of the Planning Commission Montek Singh Ahluwalia, was held on Friday.

According to an official release, the meeting was held through video conference. The committee was constituted to advise the State government on measures to augment the State’s own tax and non-tax revenues, identify new and under-tapped sources of revenue, plug leakages, improve compliance in revenue-collecting departments, and enhance revenue through regulatory and taxation reforms.

During the meeting, the committee discussed its Terms of Reference and the manner in which it proposes to take its work forward. The committee will be supported by a dedicated research team drawn from the Tax Policy Research Unit and the Financial Data Analytics Unit of the Finance Department and will draw upon the experience of other States and established practices in public finance, the release said.

The committee will frame its recommendations across short-term, medium-term and long-term measures. The committee also decided to meet in person in August. It will meet relevant stakeholders and invite inputs through email in the course of its work so that its recommendations reflect a balanced and comprehensive assessment, the release added.