Raja Chelliah Committee and Jilani Committee (Download PDF)

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Raja Chelliah Committee Purpose: Tax Refoms Raja Chelliah Committee recommendations: Reforming the personal taxation system by reducing the marginal tax rates. Reduction in the corporate tax rates.

  • Reducing the cost of imported inputs.
  • By lowering the customs duties.
  • Reduction in the number of Customs tariff rates and its rationalization.
  • Simplifying the excise duties and its integration with a Value-Added Tax (VAT) system.
  • Bringing the services sector in the tax net within a VAT system.
  • Broadening of the tax base.
  • Building a tax information and computerization.
  • Improving the quality of tax administration.

Jilani Committee

Purpose: Loan System

Summary of Recommendations

  • The checklists for conducting computer audit in commercial banks and financial institutions may be circulated to all commercial banks and financial institutions under the supervisory jurisdiction of RBI
  • Banks and FIs may be advised to follow the checklists as general guidelines and those banks/institutions which are following better practices may continue to do so
  • The checklists circulate to all the Regional Offices of DBS to enable the inspecting officers to conduct the computer audit at the time of financial audit. Suitable extension of time may be given to the inspecting officials
  • A copy may be forwarded to Inspection Department of the Bank, who are responsible for conducting internal audit of RBI for their use
  • Periodical training/seminar on this area may be conducted at RBSC (for inspecting officials of RBI) and BTC (for commercial banks) on a continuous basis
  • A cell form at Central Office of DBS, which will scrutinize the reports prepared by the inspecting officials so that necessary corrective action may suggest to banks through BMDs or CPOSs as the case may be. Further, this cell may continue to update the checklists with latest developments and concerns so that the checklists remain current and relevant.

- Published/Last Modified on: December 23, 2016

Committees/Govt. Bodies

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