Odisha govt curtails financial powers of Startup Odisha

Odisha Government has put curbs on the financial powers of the Startup Odisha authorities. The MSME Department of the Odisha government recently issued a notification in this regard.

“In supersession of any instruction/circular/guideline/notification issued earlier by State Government or Startup Odisha in this regard, Government hereby delegates following financial power to Startup Odisha for its smooth functioning,” read the letter.

As per the notification issued by the government, financial power in sanction of and incurring an expenditure of any type (i.e. schematic/non-schematic, recurring/non-recurring, revenue/capital, etc.) and for any purpose (i.e. whether for engagement of consultant, hiring or outsourcing of services, construction works, procurement of goods and services, undertaking new projects etc) have been delegated.

While the financial power of the Executive Chairman of Startup Odisha has been delegated up to Rs. 1 Crore, the Board of Directors of Startup Odisha has been delegated financial power up to Rs. 10 Crore. 

Full power has been given to the Executive Chairman of Startup Odisha for sanctioning and incurring routine expenditures related to salary/ remuneration of employees, routine payment towards outsourced services/ consultancy charges, etc.

“Board of Directors and Executive Chairman of Startup Odisha shall sanction and incur expenditure within their financial power subject to the condition that (a) the expenditure should be in the approved budget of Startup Odisha and (b) due government procedure must have been followed for incurring such expenditure,” the letter further read.

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