USAID to give 3 states Rs 90 cr

The United States Agency for International Development (USAID) said today that it would extend $20 million or Rs 90 crore to Uttaranchal, Jh...

The United States Agency for International Development (USAID) said today that it would extend $20 million or Rs 90 crore to Uttaranchal, Jharkhand and Karnataka to improve their fiscal management systems.

The five-year assistance, under a ‘‘reform’’ programme, would enable the three states to strengthen their fiscal management system for better forecasting, budgeting and investment, according to an American embassy press release.

The lending agency said the area focus in three states include better budget preparation processes, updated information systems to guide financial decision-making, practices to track and manage state debt and the use of appropriate global standards in public finance to inform and engage public decision-making.

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The move to extend assistance to these states comes after a detailed discussion with the Ministry of Finance and USAID has awarded $11.8 million or Rs 53.1 crore to the US-based Bearing Point (formerly KPMG Consulting) for the first phase of the programme, it said.

Despite India’s strong growth, state governments’ finances were strained, limiting investment in social and physical infrastructure, USAID said. ‘‘States continue to be stressed by high fiscal deficits, raising concerns on the long-term sustainability of India’s overall national growth’’.

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