TN FM announces reform measures

Chennai, May 7 Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Saturday said the government will restructure the treasury, accounts, pension, small savings and statistical data centre for their efficient performance.

Announcing this in the state Assembly, Rajan said the introduction of Integrated Financial Management and Human Resource Management System (IFHRMS) the funtions of various divisions under the Finance Department has undergone a change.

He said state government undertakings like the Tamil Nadu Power Finance & Infrastructure Development Corporation Ltd, Tamilnadu Transport Development Finance Corporation Ltd, Tamil Nadu Urban Finance and Infrastructure Development Corporation Ltd, Tamil Nadu Urban Infrastructure Financial Services Ltd and The Tamilnadu Industrial Investment Corporation Ltd, will be reformed.

A detailed study will be made on the hurdles faced by the above companies, improve their performance and reduce their costs.

According to Rajan, at an outlay of Rs 10 crore, the Bureau of Public Enterprises (BPE) will be modernised to strengthen the managerial capability of the state government undertakings.

The government will also consult finance experts to guide the financial corporations of the government, he said.

The Tamil Nadu Finance Minister also said the government will take steps to reduce the state's debt burden.

He also said a Financial Analytical Centre will be set up so that the government can take decisions on real time data.

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