In pursuance of the budget announcement of Chief Minister Tarun Gogoi, the Assam Finance department has decided to strengthen the state public Finance Management system by using modern technology investing Rs 274 crore from the current year with the assistance of World Bank.
The state government proposed Assam Public Financial Management Strengthening Project (APFMSP) having an estimated USD 44 million (Rs 274 crore) cost would be funded by the World Bank, a government release said.
A seven-member team of Identification Mission of the Bank visited the state and interacted with all the stake-holders last week.
The Department of Economic Affairs has approved the proposal and recommended to World Bank for its consideration and the Bank has given its nod to take up the project.
The project is aimed at strengthening public finance framework by enhancing the state's capability in planning cash and debt management, revenue forecasting systems, the release said.
The World Bank team interacted with several departments, directorates and institutions of Assam government, including Finance, Economic Affairs, Planning and Development, Hill Area Development, Health, Forest Departments, office of Principal Accountant General and Directorates of Treasury, Audit (Local Fund) etc.
At a wrap up meeting on September 11 Chief Secretary V K Pipersenia emphasised 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.
