XIMB: New CEFT inaugurated
The Government of Odisha, in collaboration with Xavier University, Bhubaneswar has established The “Center of Excellence in Fiscal Policy and Taxation (CEFT)” at the Xavier Institute of Management, Bhubaneswar (XIMB); the inauguration ceremony was presided over by Odisha Chief Minister Naveen Patnaik.
“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,” Chief Minister Naveen Patnaik said during the inauguration.
The new CEFT will act 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 center will be responsible for providing analysis of fiscal and financial issues, budget outlook, project financing and management, fiscal reports and relevant data, revenue forecasting, specialized training for finance and taxation officials and facilitating interaction between academicians and finance officials.