New Delhi, Aug. 26
INDIA Inc. welcomed the first ever Outcome Budget announced by the Finance Minister today. The chambers unanimously stated that the move would bring transparency in the implementation and monitoring of on-going projects.
The Associated Chamber of Commerce and Industry of India, in a statement released here, said that the outcome budget would help realise the ministries' vision by clearly defining outputs and outcomes. It will also strengthen the citizens' Right to Information by placing putting crucial information on expected outcomes in the public domain.
The Confederation of Indian Industries (CII) said this was a good start by the Government towards an outcome and performance-based budgeting, and would improve efficiency and accountability of budget outlays. But more needs to be done to achieve efficiency and accountability, said CII. It felt that the Government must come out with a clearer definition of outcome as different from output.
The Government should also announce some definitive targets to help compare against the actual outcome.
Mr Amit Mitra, Secretary General, Federation of Indian Chambers of Commerce and Industry, said in a statement that the Outcome Budget's introduction would lead to better value creation from Government outlays.