Paper budgeting is the most important and the hardest process for any nation to ensure stable economic growth. The main aim of budgeting is to identify weak areas in economy and allocate useful and sustainable resources to serve the nation thoroughly. However, the future of paper budgeting has taken a U-turn when MP (Madhya Pradesh) became the first state to introduce a paperless budget. The decision was taken by cabinet members in meeting held on Tuesday.
The finance minister will introduce a paperless budget in the legislative assembly, which got scheduled from February 22- March 26. State home minister, Narottam Mishra said, “Madhya Pradesh will become the first to present paperless budget after the Central government. Tabloid will assist people to read the budget.”
Period of Performance
The provision stays effective till 31st December, 2021. The performance guarantee gets minimized from five years to three years.
The cabinet approved schemes like providing loans to farmers at 0% interest rate. In addition to this, state government made the decision to merge MAPIT (Madhya Pradesh Agency for Promotion of Information Technology) with MPSEDC (Madhya Pradesh State Electronics Development Corporation Department). MPSEDC was in controversies two years ago for e-tendering scam.
New Schools To Be Opened
The cabinet meeting decided to open CM Rise School in each district and block. It will contain all the required facilities. The school will bring in children’s from nearby areas ranging within 25 km. CM Shrivraj Singh had discussion with ministers regarding the general budget.
Hope so the first paperless budget will create a self-reliant India that will benefit all the citizens.