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Monday October 3, 2022


AP Bureau:

Bhubaneswar, 11th Nov: Odisha would continue to work with International Monetary Fund (IMF)’s South Asia Training and Technical Assistance Center (SATTAC), New Delhi in the areas of further improving fiscal management and resource augmentation in the State.” Fiscal reform in Odisha is at cutting edge and on the right path with sensible approaches”. It was deliberated in a meeting led by IMF Deputy Director- Asia-Pacific Department, Anne Marie Gulde on Tuesday.

The meeting on Public Finance Management (PFM) was held in the presence of Chief Secretary Asit Tripathy here.

“Odisha has shown great interest and progress in improving PFM. It is one of the most active States in India. We are impressed by the level of political will, technical preparedness, administrative commitment and the degree of progress that have already been made. We will continue our joint effort with Odisha in coming two years for full achievement of the targets”, Gulde said.

Discussion on fiscal reform issues relating to implementation of strategic fiscal planning, strategic budget making, preparation of fiscal strategy paper, Odisha Fiscal Responsibility and Budget Management Act, fiscal risk management, cash management, commitment management and control ( CMC) system,  common treasury management and e-procurement etc. were deliberated in the meeting.

Principal Secretary Finance Sri Meena said that under this new system the finance department would communicate the advance tentative ceiling and the departments would prepare the detail budget as per their priority keeping in view need of the people and commitment of the State

The State budget size has been increased from Rs. 18,516.52  cr in 2001-02  to Rs. 1.39,000 cr in 2019-20 thereby recording a growth of more than 18 times.

November 13, 2019 • No Comment