Chief economic advisor Krishnamurthy Subramanian included in Finance Commission's advisory council

File image of Krishnamurthy Subramanian. Reuters[/caption]The advisory council was set up in April 2018 to advise the commission on any issue or subject related to the terms of reference (ToR) of the commission, and also to assist in the preparation of any paper or research study which would enhance the commission's understanding on the issue contained in its ToR.The council now has 12 members, including NIPFP professor Pinaki Chakraborty, noted economists Surjit Bhalla, Arvind Virmani, Indira Rajaraman and M Govinda Rao.The council had also been mandated to help in broadening the 15th Finance Commission's ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.In December 2018, the government appointed Subramanian of Indian School of Business (ISB), Hyderabad, as the chief economic advisor in the finance ministry for three years.