Ex-RBI Governor Rangarajan heads panel to look at TN fiscal challenges

According to the government, the committee comprises economists, industrialists, vice chancellors, bankers, government officials and others.

The committee's terms of references are:

Assess the overall immediate and medium-term impact of Covid-19 on different sectors of the Tamil Nadu economy, including impact of the lockdown, additional costs and implications due to social distancing and other precautionary measures

Assess opportunities and threats in the short and medium term 

Measures required to help important sectors of the economy to overcome Covid-19 pandemic

Identify specific reform measures to be taken by the state government to support the growth of important sectors of the economy

Asses the Covid-19 impact on the state government's fiscal situation, the way forward to improve it, including increasing the tax: Gross State Domestic Product (GSDP), diversifying revenue source and repriotising expenditure

The issues the state government should take up with the Central government

Identify possible source of financing and funding for different sectors, including infrastructure projects, small businesses and other enterprises.

According to the government, the committee will submit its final report within three months and may also submit an interim report as it may deem fit.