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CAs chart action plan for state
July, 02nd 2008

The Institute of Chartered Accountants of India (ICAI) has offered to help the state government to draw up its annual budget and other state plans.

The institute has further offered its expertise on efficient utilisation of central funds, book keeping and accounting in various state departments, besides rendering advice on e-governance in public utility services owned by the state.

The central council of ICAI has also decided to constitute a state-level public finance committee for Jharkhand. This committee, in its first meeting at Ranchi, has unanimously decided to offer services to the state government in all fiscal matters from drawing up state plans and annual budgets to more efficient means of handling central grants, R.N. Sur, the chairman-cum-convener of the state committee told The Telegraph.

Sur pointed out that careful examination of the state budget for the current fiscal revealed several areas needed to be worked upon on a priority basis to make the budget more effective.

State debts have fallen though the interest burden has shot up. The state budget in the current fiscal revealed that funds have been diverted towards the retirement of debts.

The interest burden on debts, too, should follow a declining trend. Unfortunately, a reverse ratio has been observed which needs to be plugged.

The state committee chairman pointed out that the institute would soon write to the state chief secretary and the secretaries of various state departments listing out the areas where ICAI could help.

ICAI could also help compile utilisation certificates for the various central funds and schemes being implemented in Jharkhand in partnership with the NGOs.

This would ensure timely flow of successive instalments of central funds and other grants, Sur added.

Dwelling on the achievements of the Ranchi branch of ICAI, Sur pointed out, the pass percentage of the Ranchi centre was around 20 per cent, as compared to the national average of 10 per cent.

The Ranchi branch was also organising computer training courses since last December and was currently engaged in setting up its own building off the Hazaribagh Road at a cost of Rs 60 lakh.

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