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New CEFT at XIMB Inaugurated
The Centre of Excellence in Fiscal Policy and Taxation (CEFT), established by the Government of Odisha in collaboration with Xavier University, Bhubaneswar (XUB), has been inaugurated at the Xavier Institute of Management, Bhubaneswar (XIMB).
While Inaugurating the Centre Chief Minister of Odisha Naveen Patnaik said “CEFT would work towards accurate and timely analysis of the budget, inter-governmental fiscal transfers, and revenue and expenditure trends. The Centre will contribute immensely to the policymaking process, for improving the quality of fiscal planning and policy formulation. It would also ensure efficient and prudent management of state finance on sustainable basis which, in turn, will ensure higher growth for the State’s economy.”
CEFT has been established as the first point of reference for policy research in tune with the objectives of the Odisha Fiscal Responsibility and Budget Management (FRBM) Act of 2005.
The Centre will focus on providing fiscal reports and relevant data, revenue forecasting, analysis of fiscal and financial issues, budget outlook, project financing and management, specialized training for finance and taxation officials, interaction between academicians and finance officials etc.
Asit Ranjan Mohanty of XUB has been nominated as the Chair Professor of CEFT. A Governing Body will set the working policies and deliverables for CEFT which will be chaired by the Additional Chief Secretary to the Government (Finance) and the Chair Professor will be the Member Secretary.