FE Report
In a major budgetary reform, the caretaker government has proposed a drastic cut in block allocation in the development budget for the fiscal 2007-08 to help avoid misuse of public money.
The proposed budget, unveiled Thursday by Finance and Planning Adviser, has brought block allocation down to 5.0 per cent of the total allocation so that resources cannot find its way into the pockets of 'corrupt' political leaders and bureaucrats.
In the development budget of FY 2006-07, the block allocation accounted for 16 per cent of total allocation.
In his budget speech, the finance adviser said that directives were given to post the list of priority projects in the IMED (Implementation, Monitoring and Evaluation Division) website along with information relating to resource allocation and utilisation by sectors and geographical divisions.
The finance adviser also said that the present interim administration has planned to bring all ministries in phases under the coverage of MTBF (Medium Term Budgetary Framework) to ensure greater autonomy in respect of allocation.
"The ministries will enjoy increased autonomy in respect of allocation and uses of resources," he said, adding that this would reduce inordinate delays, indecisions and inefficiency.
Drastic cut in block allocation proposed
FE Team | Published: June 08, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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