New Delhi: The finance ministry has come out with revised guidelines for public-funded projects under which schemes should be designed keeping in view economies of scale and the need to share implementation machinery. The streamlining of the public-funded projects is aimed at expediting implementation and reducing time and cost overruns, an official said. The government in the Union Budget 2016-17 had announced to do away with plan, non-plan distinction at the end of the 12th five-year plan. After that announcement it was imperative that a plan, non-plan neutral appraisal and approval system is put into place, the official said. Further, as per the revised guidelines, no new autonomous body, institution or other special purpose vehicle should be set up without the approval of the cabinet.

Source: Mint August 28, 2016 17:03 UTC