BHUBANESWAR: Even as Odisha is likely to present a vote-on-account budget for the first quarter of 2022-23 in view of the civic body polls expected next month, the State government has stressed taking up more projects under zero-based investment scheme.
Focus has been laid on the scheme as several infrastructure projects taken up by the departments concerned continue to languish owing to lack of monitoring and effective implementation. In the run up to the Budget 2022-23 which is expected to cross Rs 1.75 lakh crore, the Finance department has asked all other departments to prepare a list of new projects in different categories with a clear indication of time line.
As the main objective of the scheme is to prioritise ongoing projects and complete as many as possible within a specified time by allocation of adequate resources wherever needed, the departments have been instructed to identify the projects worth over Rs 1 crore and above and Rs 10 crore and above for completion during 2022-23.
The departments will have to identify such projects at their level keeping in view the provisions of Section-6 of Odisha Fiscal Responsibility and Budget Management (FRBM) Act, 2005, which lays stress on allocation of funds in a manner that would ensure completion of ongoing projects during the financial year as per the time schedule. The screening will be done through strict technical, financial and economic appraisal in order to achieve maximum social impact and optimum utilisation of the limited resources available.
The Finance department has asked to identify the projects and furnish the list category-wise by February 21 for completion during 2022-23 under zero based investment scheme. The exercise is being done to avoid cost escalation against a number of projects, which can be completed in a time bound manner, within the budgeted allocation.
“The government is giving utmost importance to completion of ongoing projects by creating more fiscal space for developmental works. The departments will have to furnish a list of projects based on zero investment review with the targeted date of completion and reason of deviation, if any, in the previous years. Identification of new projects should be done meticulously,” said an official of the department.
In order to ensure maximum outcome from limited outlays, the departments have been asked to prioritise the allocation of funds for the projects to complete the same within the time schedule.
Stress on infra