August 2, 2013 by apicomely
India’s Finance Minister Vows Not To Overspend
Co-ordinate and maintain a cash forecasting system to ensure that adequate funds are available to meet the working requirements of the programmes Monitor and allocate ongoing levels of expenditure on individual programmes against budget, and provide timely advice of likely over or under-spends to the Country Management Team, and the relevant Programme & Finance teams in head office. Ensure that contractual commitments (e.g. for the rental of vehicles and/or premises) are financially sound and appropriate for the circumstances of the programme. Prepare as required project budgets and financial reports for donors Administration and information management Lead the establishment of administrative and financial systems to ensure the smooth running of Merlin base and ensure these are adhered to by the team Ensure all proposals, reports and contracts are filed in both hard and soft copy. Develop, update and circulate donor and funding tracking systems Ensure Merlin procedures for authorisation and sign off are followed.
(Image credit: AFP/Getty Images via @daylife) Indias Finance Minister Palaniappan Chidambaram said despite the tough outlook for government finances, and an election coming up, New Delhi has no plans to overspend to win the hearts and minds of the electorate. On Thursday, the Economic Times reported on a Chidambaram presser on the first anniversary of his role as the countrys finance ministry where he said that state-run companies would be encouraged to raise funds overseas in new bond issues. He also said that the foreign direct investment policy would be liberalized beyond just big box retail and airlines currently as the government tries desperately to bring in money from abroad. Meanwhile, the FinMin did the usual cheerleading, saying he was confident the government could finance the current account deficit now nearly 5% this year without pulling money out of Indias foreign cash reserves.
Wielding Finance, Innovation And Policy To Make An Impact In Climate Change
Forbes Asia attended the Global Green Growth Summit in Songdo, Incheon, an annual event focused on Green Growth, to find out more about the future of green growth: finance, innovation and policy. I managed to catch up with Vikram Widge, Head of Climate Finance and Policy at the International Finance Corporation to discuss the combination of finance, innovation and policy working together to make impact in climate change. FORBES ASIA: What are the major bottlenecks to larger flows of investment into sustainable infrastructure in developing and emerging countries? Widge: There are 2 main challenges. First, developing and emerging economies need to develop investment-grade policy frameworks that generate a strong pipeline of bankable green growth projects.