5T Initiative: Odisha Ranks Third in Budget Process Transparency in Country
Bhubaneswar: In yet another distinction in implementing 5T Framework in State’s financial management including public disclosure, budgetary process, post-budget fiscal management, Odisha has ranked 3rd in the country in annual edition of the Transparency International. While Assam and Andhra Pradesh stand at 1st and 2nd place with 70 and 67 ranking points, Odisha has secured [...]
Bhubaneswar: In yet another distinction in implementing 5T Framework in State’s financial management including public disclosure, budgetary process, post-budget fiscal management, Odisha has ranked 3rd in the country in annual edition of the Transparency International.
While Assam and Andhra Pradesh stand at 1st and 2nd place with 70 and 67 ranking points, Odisha has secured 66 ranking points with regard to transparency in budget making process.
Complementing the progressive procedural reforms achieved by the Finance department in the matters of budget making, financial management and financial regulation, the Chief Secretary has directed the department to work out a ‘composite index’ including agriculture, fishery and animal husbandry sectors for tracking the State’s economy during pre-covid, covid and post-covid scenarios. The Chief Secretary also directed the officials to focus on surrender of the funds lying idle in different Government departments.
The Chief Secretary advised to apply the ‘composite index’ for assessing the State’s economic trend on monthly and quarterly basis.
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