In a bid to ensure that the earmarked budget of \u20b92.36 lakh crore is utilised to strengthen grassroots democracy, the Ministry of Panchayati Raj is organising the Finance Commission Conclave on Thursday to map the devolution of financial powers to local bodies at the panchayat level.<\/p>\n
With the theme \u2018Devolution to Development\u2019, the Conclave attempts to bring together key stakeholders, including the Central and State finance commissions and multiple ministries and experts, to strategise on \u201c3Fs\u201d \u2013 Funds, Functions, and Functionaries. <\/p>\n
This encapsulates essential elements of devolution of financial powers for the development of \u2018grameen bharat\u2019, said Ministry sources.<\/p>\n
\nFocus in line with PM\u2019s vision
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The event will be spread across four key sessions and will be based on the Whole-of-Nation Approach (WNA) aimed at enhancing financial governance of local bodies \u2013 a move that underlines Prime Minister Narendra Modi\u2019s emphasis to empower panchayati raj Institutions for an inclusive, holistic and sustainable development in rural areas nationwide, observed an officer of the Ministry. <\/p>\n
It will be presided over by Dr. Arvind Panagariya, Chairman of the 16th Finance Commission, and will see Vivek Bharadwaj, Secretary, Ministry of Panchayati Raj, and Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, in attendance among other senior bureaucrats.<\/p>\n
\nSessions and discussions
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The first session, focusing on local body grants, will examine topics such as \u2018tied versus untied grants\u2019, the condition of online account availability, and the audit requirements for local bodies \u2013 an area the panchayati raj ministry is already working on to strengthen fiscal governance at the last mile level, said Ministry sources. <\/p>\n
The session will be inviting insights from the State Finance Commissions of 12 States. Each State will share their respective perspectives. An open discussion will allow further exploration of the challenges and innovations related to grant utilisation. <\/p>\n
The second session will address \u2018panchayat finances\u2019, exploring topics such as the devolution of funds, functions, and functionaries, along with strategies to enhance local revenue sources. This session will invite the viewpoints of 13 States. <\/p>\n
Overall, the Conclave will facilitate crucial deliberations on addressing systemic challenges, ensuring timely constitution of State Finance Commissions and implementation of recommendations, and strengthening institutional mechanisms. <\/p>\n
Senior officers from the Ministries of Rural Development, Finance, and Housing and Urban Affairs will participate in the day-long Conclave alongside experts and representatives of State Finance Commissions. <\/p>\n