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Finance Minister Calls for Prudent Expenditure Management; Asks Officers of Indian Cost Accounts Service to Upgrade Their Professional Skills and Expertise in Order to Play a Proactive Role in Assisting the Government in Achieving the Highest Level of Cost Efficiency in Its Projects Schemes and Operations; Inaugurates the First Indian Cost Accounts Service Day

Dated:- 10-8-2015 - The Union Finance Minister Shri Arun Jaitley said that in post liberalized era, competitiveness, cost and efficiency management have become the key words of survival and growth. He said that it is all the more important for the Government of a country to have an efficient expenditure management failing which it may face situation like Greece. He said that for a good governance, the Government has not only to augment its resources through better revenue collections but also to .....

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for Indian Cost Accounts Service. He also presented mementos to the former Chief Advisers Cost on this occasion. Earlier speaking on the occasion, Shri Ratan P. Watal, Secretary (Expenditure), Government of India said that the Indian Cost Accounts Service (ICoAS) officers deal in quite varied and wide subject matters of contemporary significance, namely, pricing of industrial products and services, determination of various subsidies, petroleum under recoveries, and systems studies. He said that .....

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without saying that these recommendations have helped Government of India to effect substantive savings in the Government expenditure on many occasions. As members of many important committees, their analysis and findings are of immense help in decision making, Shri Watal added. Shri Watal, Secretary (Expenditure) further said that the Government has managed to control expenditure through rationalization. The ongoing fiscal consolidation process has been successful in taming the fiscal deficit, .....

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enditure on subsidies through improved targeting of beneficiaries. Major subsidies are extremely critical from the viewpoint of fiscal consolidation and are the most important factor in meeting its fiscal targets. The efforts of Government would be to address this issue with a two pronged strategy. Government is committed to progressively pursue subsidy reforms in a manner that will ensure efficient targeting of subsidies to the poor and needy, while also saving scarce financial resources for in .....

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