The Government of India, the Government of Rajasthan and the World Bank today signed a $21.7 million loan agreement for the Strengthening Public Financial Management in Rajasthan Project. With higher devolution of central funds to the states, the Project will help the state government put in place systems for better planning and budget management, enhance transparency, accountability, and efficiency in public spending, and strengthen the capacity of the revenue systems across key departments of Finance, Excise and Commercial Taxes Planning, and the Department of Information Technology, among others.
The agreement for the Project was signed by Sameer Kumar Khare, Joint Secretary, Department of Economic Affairs, Ministry of Finance, on behalf of the Government of India; Manju Rajpal, Secretary Finance (Budget), on behalf of the Government of Rajasthan; and Hisham Abdo, Acting Country Director, World Bank India, on behalf of the World Bank.