The probe panel will be led by retired Delhi High Court judge Usha Mehra, Finance Minister P. Chidambaram said after a cabinet meeting.
The report is to be submitted in three months, he said.
"The steps are being taken with the serious intent to find a lasting solution to the problem (of rape) that plagues all metros and other towns of India," he said. "That it is happening in Delhi is a matter of shame."
The announcement comes 10 days after a bunch of men raped and tortued a 23-year-old woman in a bus and dumped her after some 40 minutes along with her male friend who too was badly beaten up.
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