The Finance Ministry has set up a 13-member steering committee to consider all proposals received from ministries and departments for raising extra budgetary resources (EBR) to meet the resource gap for funding infrastructure, health, education and other social sector projects.
The steering committee, headed by Economic Affairs Secretary, will assess the requirement of project funds, progress of schemes and availability of budgetary resources. Thereafter, it will decide on the aggregate amount of EBR to be raised and the model of raising it including the institution for raising resources and determine a broad calendar for the EBR programme.
The department of economic affairs (DEA) has asked all the ministries and departments concerned to finalise the requirement of EBRs in 2018-19 for projects as announced in the Union Budget 2018-19 and send the proposal to it for consideration of the steering committee. The panel has secretaries from different ministries as members, besides Chairman of NABARD and Managing Director of IIFCL.