World Bank aid for Bihar financial management

Patna, Aug 11 (UNI) With a view to improving Bihar's financial management and bringing it at par with the global standards, the World Bank will grant USD 2,50,000 to the state government during the current fiscal.

Bihar Deputy Chief Minister Sushil Kumar Modi, who also holds the finance portfolio, today informed newspersons regarding this while talking on the government's public expenditure management programme.

He said that under the time-bound programme and with funds coming from the World Bank, steps would be taken to develop a 'financial capacity building system' through detailed revision of the state treasury code, budget manual and financial rules.

Suggestions for improving the cash planning control and strenthening the management information system would also be sought from the concerned agencies for improving the state's overall financial management, Mr Modi said.

Stating that this decision to provide grants would help in improving the computerised treasury system, standard bidding processes and procurement of high value documents, the deputy chief minister said efforts would also be made to upgrade the personnel training module in his department.

UNI