KSOM Organizes RBI’s Outreach Program on State Finance Report

An Outreach Program of RBI – ‘A Presentation on the State Finance Report’ – was organized by KIIT School of Management (KSOM) on 26th April 2022. Three eminent speakers from the Central Team of RBI – Dr. Deba Prasad Rath, Officer-in-Charge, Department of Economic and Policy Research; Dr. Samir Ranjan Behera, Director, Division of Central Finances, Department of Economic and Policy Research; and Dr. Somnath Sharma, Assistant Adviser, Division of State Finances, Department of Economic and Policy Research – conducted the program.

Dr. Rath presented on the functioning of fiscal mechanisms and explained about the Key Fiscal Indicators of States in 2020-21 and 2021-22 (BE), role of outstanding debt of the State Governments and debt decomposition.

Dr. Somnath Sharma presented the detailed report on State Finances into three parts: (Part I) Analysis of State Finances in 2020-21; Key Fiscal Indicators of States in 2020-21 and 2021-22 (BE); Outstanding Debt of the State Governments Debt Decomposition; (Part II) Coping with the Pandemic – A Third-Tier Dimension; First wave vs. Second Wave; and (Part-III) Primary Survey of the Municipal Corporations; Functions of the Municipal Corporations in the Face of the Second-wave; and Financial Challenges Faced by the MCs.

Dr. Samir Ranjan Behera took up the queries stating a robust federal set up is essential and functions as an optimal form of government as it combines the strength of a unitary as well as a decentralized form of government. The essence of federalism lies in proper division of powers and functions among various levels of government to ensure adequate financial resources to each level of government to enable them to perform their exclusive functions. He explained.

Earlier, Prof. S. N. Misra, Dean, KSOM welcomed the speakers and shared his views on the functioning of Monetary Policy. The Program was coordinated by Prof. Shikta Singh. The discussion was followed by a Q&A session which was well addressed by the RBI Team. Over 100 students and faculty members from KIIT School of Humanities, KISS School of Rural Management, KIIT School of Social, Financial & Human Science, and KISS Deemed to be University attended the program. 

KSOM Organizes RBI’s Outreach Program On State Finance Report
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