FinMin, MCA must strive for simplification of processes: Sitharaman

FM urged to go beyond to explore frontiers beyond their set roles and make an extra impact on other domains as well so that synergistic thoughts emerge which can be useful for the overall Ministry

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Ministries of Finance and Corporate Affairs should strive for simplification of processes with a focus on whole-of-the country approach to maximise delivery and engagement, Union Minister Nirmala Sitharaman said on Tuesday.

Addressing the Chintan Shivir of the Finance Ministry and MCA, Sitharaman also emphasised the need to continuously reorient policy in the cultural context and to instil a sense of ownership in decision-making, to enhance effectiveness with efficiency.

During the three-day Chintan Shivir of the Ministry of Finance and Ministry of Corporate Affairs, discussions were held by more than 100 senior officers of MoF and MCA on how to re-orient to achieve the Amrit Kaal goals.

In a statement issued after the conclusion of the Chintan Shivir on Tuesday, Sitharaman advised the officers to optimally utilise the vast pool of resources and experience at disposal in the Government. The Finance Minister underlined mentoring of young generations to embellish efforts in the march toward Viksit Bharat of 2047 in the Amrit Kaal.

Sitharaman urged the officers to go beyond to explore frontiers beyond their set roles and make an extra impact on other domains as well so that synergistic thoughts emerge which can be useful for the overall Ministry.

The minister stated that both effectiveness and efficiency are long-term phenomenon and consistency in reform policy, with focus on both, individual and institutional efficiencies, are vital ingredients in public service delivery.

Referring to phenomenon of information overload as counter-productive to effectiveness and efficiency, the Union Finance Minister emphasised that both MoF and MCA must strive for simplification of processes with a focus on not just the whole-of-Government-approach, but also whole-of-the-country approach to maximise delivery and engagement, the Ministry said in a statement.

During the discussions, Minister of State for Finance Pankaj Chaudhary called for ambitious target orientation for productively achieving goals towards India's journey in becoming a developed country by 2047.

The Session on the Role of Ministry of Finance and Ministry of Corporate Affairs in Amrit Kaal focused on enabling growth and stability, and focused on four themes

Capital Formation and Retention, inclusive growth, Aatmanirbhar Bharat, and strengthening public finance.

On the sidelines of the Chintan Shivir, the Union Finance Minister also interacted with the G20 Finance Track India Team.