Parliamentary Committee on Finance to Examine Crypto, AI and 44 Other Economic Issues in FY'27

The Parliament's Standing Committee on Finance has finalized a list of 46 subjects for detailed examination and report preparation during the current fiscal year. The selection covers a wide range of policy matters, including the study of virtual digital assets and the application of artificial intelligence in the financial sector.

The development follows the recent reconstitution of several Parliamentary Committees by Lok Sabha Speaker Om Birla earlier this month. BJP MP Bhartruhari Mahtab has been reappointed as the Chairperson of the Standing Committee on Finance, which consists of 21 members from the Lok Sabha and 10 members from the Rajya Sabha.

According to a Lok Sabha bulletin, the committee's agenda for 2026-27 spans multiple key government bodies. These include the Ministry of Finance across its various departments—such as Economic Affairs, Expenditure, Public Enterprises, Investment & Public Asset Management, Revenue, and Financial Services—alongside the Ministry of Corporate Affairs, NITI Aayog, and the Ministry of Statistics and Programme Implementation.

Among the prominent economic scenarios slated for review are strategies for price and currency stability, currency management, financial sector regulatory mechanisms, and the monetisation of public sector assets. The panel will also evaluate banking, pension, and health insurance sectors, examine social security provisions for the informal sector, and review various central government schemes.

Further areas of focus include macroeconomic landscape evaluations, small savings schemes, the role of the Reserve Bank of India, and a performance review of the Securities and Exchange Board of India (SEBI). The committee will also look into customs, Goods and Services Tax (GST), direct tax reforms, and regulatory gaps within the Non-Banking Financial Company (NBFC) sector.

Specific technical studies approved by the panel include a detailed examination of virtual digital assets and the way forward, as well as an analysis of emerging issues and prospects concerning artificial intelligence in financial services.

For the Ministry of Corporate Affairs, the committee plans to study challenges and potential paths forward for the National Company Law Tribunal (NCLT). It will also review corporate social responsibility (CSR), corporate e-governance, and auditor accountability.

Additionally, the panel will assess NITI Aayog's role in formulating sectoral roadmaps and the operational efficiency of the aspirational districts programme. For the Ministry of Statistics and Programme Implementation (MoSPI), the committee will focus on national accounts statistics and recommend methods to strengthen the broader economic data mechanism.

"The decision by the Parliamentary Committee on Finance to examine subjects like virtual digital assets, artificial intelligence in finance, and NBFC regulatory gaps highlights the government's proactive approach toward evolving economic landscapes. For businesses, startups, and financial institutions operating in India, these parliamentary reviews often lay the groundwork for future regulatory frameworks, compliance standards, and policy updates. Stakeholders in the fintech and emerging technology sectors should closely monitor these developments as they will likely shape the operational guidelines for digital assets and automated financial systems in the coming years." — Dr. Shishir Gupta, Founder & CEO, StartupLanes