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Fiscal Policy

Cancelled : Virtual : Maximizing Public Investment Efficiency in Indian States

Cancelled

Session No.: SA 21.35V

Location: New Delhi, India

Date: August 23-27, 2021 (1 week)

Primary Language: English

    Target Audience

    The target audience will be staff of Ministries and other organizations who are involved in the budget and public investment management.  There will be an option for Financial Secretaries and Key Management to attend the first day of the workshop for the high level focus coverage and discussion.

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    Qualifications

    A familiarity with the budget process and/or public investment activities.

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    Course Description

    There is well-established evidence that public investment in a quality infrastructure plays a crucial role in fostering economic and social development. The global investment spending needs are staggering. The estimated total investment needs to meet the SDGs by 2030 in low-income developing countries and in many emerging market economies are more than 36 percent of GDP. These needs can be met by building new assets and optimizing existing infrastructure, but also by eliminating inefficiencies linked to poor infrastructure governance. IMF estimates that, on average, more than one-third of the resources spent on creating and maintaining public infrastructure are lost because of inefficiencies in public investment management.

    The workshop is envisaged to help India states strengthen their infrastructure governance in terms of the institutions and frameworks for planning, allocating, and implementing infrastructure spending. In particular, the workshop will offer an opportunity to recognize the importance of and tools for integrating capital planning for infrastructure into the medium term budget strategy. 

    The workshop will include managing and planning for an efficient and effective public investment strategy.  A focus on integrating infrastructure policies within a multi-year budget framework can enable policy makers to recommend and government to implement infrastructure that is well planned, adequately funded, and consistent with long term objectives. This process recognizes the timing of investment activities and linkages between the investment and recurrent budget to operationalize the asset. A presentation on maintenance will enable participants to address the costs within the planning process. 

    The workshop will include evaluation criteria in the public investment management assessment diagnostic but goes beyond the diagnostic to help participants identify key strategies and reforms for improving public investment management. There will be exercises and group discussions on managing coordination between entities, identifying, and mitigating the fiscal risks of infrastructure projects, and integrating public investment improvements within a reform plan.

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    Course Objectives

    Participants will understand how to maximize public investment efficiency using sound budget allocation and project implementation practices.  They will have an improved knowledge on the linkages of medium term policy with budget preparation, implementation of infrastructure, and planning for operationalizing their infrastructure.

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