Hry to set up state financial services

CHANDIGARH: The state government has decided to set up Haryana State Financial Services Ltd, a new non-banking financial company that will act as an in-house treasury manager for efficient management of surplus funds of public enterprises, autonomous bodies and other state entities.

The company is expected to become operational in the first quarter of 2018-19, finance minister Capt Abhimanyu said.

The state government has decided to restructure its State Subordinate Accounts Services and Audit cadre to promote highest standards of professional competence in areas of accounting and auditing.

“For this purpose, the Institute of Public Auditors of India, Chandigarh is conducting a study. This would facilitate the cadre to do their job in a more professional manner and eventually result in better management of state finances in government departments as well as public sector enterprises,” the minister said.

The government has set up Swarna Jayanti Haryana Institute for fiscal management to provide structured training and research programmes for government officers and officials in the areas of public finance policy, financial management and financial administration, with specific focus on taxation, budgeting, financial planning, audit and accounts management , he said.