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World Bank offers Rs 274 cr to strengthen Assam Public Finance Management System
Highlights
World Bank Offers Rs 274 Cr To Strengthen Assam Public Finance Management System. Assam government has embarked on a mission to streamline and strengthen the state public Finance Management system by using modern..
Guwahati: Assam government has embarked on a mission to streamline and strengthen the state public Finance Management system by using modern technology by investing Rs 274 crore from the current year with the assistance of World Bank.
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A seven-member team of Identification Mission of the Bank visited the state and interacted with all the stake-holders from September 7-11.
Assam government had proposed Assam Public Financial Management Strengthening Project (APFMSP) for an amount of $44 million USD (Rs.274crore) to be funded by World Bank. Department of Economic Affairs, Union government has approved the proposal and recommended to World Bank for its consideration on August 21, World Bank has given its assent to take up the project.
“This project is aimed at strengthening public finance framework by enhancing states capability in planning cash and debt management, revenue forecasting systems,” Assam Chief Minister Tarun Gogoi said in a statement.
“Modernization of Assam Financial Rules, Treasury Rules, Governance Reforms, Revenue and Expenditure information systems, Capacity Building of all the stake-holders will be core areas under this project,” Gogoi said.
The world Bank team has interacted with several departments, directorates and institutions of Government of Assam, including Finance, Economic Affairs, Planning and Development, HilI Area Development, Health, Forest, Commercial Text Departments, office of Principal Accountant General and Directorates of Treasury, Audit (Local Fund) etc. The mission has studied procurement systems prevalent financial, treasury rules, revenue and expenditure information systems, available facilities for capacity building etc.
On September 11, a wrap up meeting chaired by Chief Secretary to the Government of Assam, V.K. Pipersenia was held in the presence of other senior officers.
lt was attended by 7 member identification mission headed by Mohan Goapalakrishnan, Team Lead, World Bank Project.
A detailed discussion was held on scope of the project. Chief Secretary emphasized the need to promote Public Private Partnership for public financing and improving revenue management systems in other sources such as transport, excise, forest, registration, etc. apart from taxation.
It was also decided to set up a Project Monitoring Unit, Assam Society for Comprehensive Financial Management System to co-ordinate with World Bank officials, all relevant departments in the state Government and carry out pre-project activities so that signing of contract can be done in time.
(Reporting by Hemanta Kumar Nath)
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