RBI governor Shaktikanta Das on Thursday emphasised on the necessity for states to undertake prudent borrowing technique and environment friendly money administration practices, preserving in view the evolving macroeconomic situations.
Inaugurating the thirty second Conference of the State Finance Secretaries (SFS) in Mumbai, he pressured that the states ought to concentrate on bettering high quality of expenditures, higher dealing with and monitoring of contingent liabilities and bettering the governance within the cooperative banks.
The Conference was attended by the officers from the ministry of finance, Government of India, Controller General of Accounts, Comptroller and Auditor General of India and the finance secretaries of 24 states and one Union Territory.
The governor highlighted the significance of the SFS Conference as an efficient platform to deliberate on, and discover out efficient methods to deal with numerous points regarding states’ debt and money administration.
The assembly reviewed, inter alia, market borrowings by the states and administration of the Consolidated Sinking Fund / Guarantee Redemption Fund. The different points mentioned within the assembly included high quality of expenditure by the states, function of states in inflation management, debt administration methods of the states, the necessity for capability constructing programmes for debt and money administration, and numerous operational issues.
Source: www.financialexpress.com”