FM likely to release 'outcome budget' this week

The 'outcome budget', which has been delayed by a fortnight, is now expected to be unveiled this week after Planning Commission evaluates the progress of projects under various ministries.

All ministries have sent their inputs to the Finance Ministry, which has referred them to the plan panel for evaluation, a senior government official said, adding the outcome budget will be released this week.

The outcome budget will provide valuable inputs to measure the development outcome of various central projects.

Announced in the general budget, it will be first time when Finance Minister P Chidambaram will present the outcome budget, which will measure the "effectinveness" of the money spent on various heads under different ministries.

Although the Finance Ministry is not against higher outlays for important projects, sources said it may not be sufficient to attain the desired goal.

The outcome budget is expected to ensure efficient service delivery, transparency and accountability.

Accordingly, Finance Ministry can allocate resources based on progress of a project.

The move would also make every departments and ministries more accountable. Government-run projects may also be completed in time resulting in reduction of cost and time over-runs.

While Centre is pioneering the concept, states have also been urged to carry out similar exercise for better use of their expenditures.