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Montek moots 'budget tracking system'

Concerned over high level of leakage in funds allocated by the government, Planning Commission on Tuesday said a "budget tracking system" needs to be put in place to plug the gaps.

business Updated: Jul 07, 2009 20:18 IST

Concerned over high level of leakage in funds allocated by the government, Planning Commission on Tuesday said a "budget tracking system" needs to be put in place to plug the gaps.

"The leakages are very high and unacceptable, although there has been an improvement... One of the things we need to do is to put in place a budget tracking system so that we know what is the expenditure," Planning Commission Deputy Chairman Montek Singh Ahluwalia said at a post-budget interaction hosted by private TV channel CNBC-TV 18.

Recalling former Prime Minister and late Rajiv Gandhi's statement in 1987 that only 15 paise was reaching the targetted community out of every one rupee, he said that about 5-6 years ago the Planning Commission found that the ratio has improved to 50 paise.

"For some, it is an improvement, but for others it is still a leakage of 50 per cent, which is very high," he said.
Ahluwalia said that he has been discussing the matter with the concerned authorities and held a meeting with the Controller General of Accounts this morning for implementation of a budget tracking system.

"I consulted Controller General of Accounts early today. One of the things we need to do is to put in place a budget tracking system so that we know what is the expenditure," he said.

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