As many as 445 new projects have been identified in the state under ‘Zero-based Investment Review’ for 2012-13. The project portfolio for this fiscal includes 355 projects under rural development development, 57 for works department and the balance 23 projects under department of water resources.
In addition to this, 245 such projects that have not been commissioned in 2011-12 will spill over to the current fiscal. It may be noted that of the 623 new projects identified for completion in 2011-12, 378 projects have been completed. During 2002-03 to 2011-12, out of 1903 projects identified for completion under ‘Zero-based Investment Review’, 1,079 projects have been commissioned.
To ensure timely completion of these identified projects, the concerned departments of the government have been allowed to make necessary provision in the Budget and in case of necessity, they have been allowed reallocation of funds within the overall Budgetary allocation made for the department. The identification of projects is independently done by the concerned departments. The screening is made through strict technical, financial and economic appraisal in order to achieve maximum social impact.
The zero-based investment scheme encompasses projects taken up at a cost of up to Rs four crore.
Prioritized ongoing projects are short listed for implementation and full funding is assured for the prioritized projects.
Completion of projects under Zero-based investment projects has become a legal requirement under Section-6 of the Orissa Fiscal Responsibility and Budget Management Act, 2005.
