MUMBAI, MARCH 22: The Congress-led Democratic Front government today set up a high-level three-member board, headed by former chief secretary Sharad Upasani, for financial and managerial reconstruction, according to Finance and Planning Minister Jayant Patil.The main task before the board will be to advice the Government on decision-making and implementation process with respect to restructuring, disinvestment and closure of some of the loss making state-run enterprises, Patil said, while presenting the annual budget for 2000-2001.The Finance Minister declared that another committee headed by the Chief Minister would be set up soon to review all government expenditure, phase out expenditure schemes having little impact, merger of schemes having similar objectives and elimination of non-merit subsidies.The third committee will be headed by former Union home secretary M D Godbole to scrutinise the Government's finances and give informed views on how public policy should be conducted. The Godbole Committee is expected to advice the Government on accounting practices and disclosure norms.Patil also stressed the need to reduce the number of government employees. ``As a first step, Governor P C Alexander has already abolished four posts from his establishment. Similarly, I have also reduced five per cent of the state on the establishment of the Finance and Planning Department,'' Patil said.
