Chief Minister Naveen Patnaik inaugurated centre of excellence in fiscal policy and taxation (CEFT) at XIMB in Bhubaneswar.
The centre would be the first point of reference for policy research in tune with the Odisha Fiscal Responsibility and Budget Management (FRBM) Act, 2005.
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CEFT is established by Xavier Institute of Management, Bhubaneswar in collaboration with the state government, will focus on providing fiscal reports and relevant data, revenue forecasting, analysis of fiscal and financial issues, budget outlook, project financing and management specialized training for finance and taxation officials, interaction between academicians and finance officials etc. The centre aims to be a platform for fiscal management.
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Amid the changing Centre-state relationship because of the 14th Finance Commission allocation formula and setting up of NITI AYOG, CEFT will focus on contextual policy research for augmentation of both tax and non-tax revenue by bridging the tax gap and optimization of capital outlay which will be instrumental in creating a higher growth trajectory in our state on sustainable basis.
source: The Times of India