Punjab to build first of its kind fiscal information exchange platform

The Punjab authorities has signed an settlement with the eGovernments (eGov) Foundation to build a first of its kind fiscal information exchange platform to allow higher administration of public finance within the State. The platform will facilitate real-time availability of monetary information to stakeholders for data-driven and environment friendly deployment of public funds and coverage making.

The not-for-profit eGovernments (eGov) Foundation was based by Nandan Nilekani and Srikanth Nadhamuni in 2003.

“An extensive diagnostic study has been conducted to understand the public finance challenges of the State and how modern-day technology can become an enabler to resolve them. Over the next two years, with the implementation of this platform, the State aims to build tools to monitor and track its financial health by building agility to adapt to dynamic and evolving needs such that available funds can be deployed actively to meet its development agenda and priorities,” State Chief Secretary Vini Mahajan instructed The Hindu on Saturday.

Ms. Mahajan stated the imaginative and prescient of the mission was to make Punjab a “lighthouse State” for efficient public finance administration by constructing resilient and environment friendly technological instruments.

“The new platform will enable need-based, effective and performance-driven financial planning at all levels of government. This will provide greater levels of flexibility to the government with the available funds and provide the State with all the information required to realise its development goals,” she added. The platform is being co-designed by the Punjab authorities and eGov with the help of subject material consultants from multilateral organisations and public coverage consultancies. The mission is in sync with the data-driven governance mandate below the Punjab State Data Policy, 2020.