Finance management to be made wholly web-based

HYDERABAD: In a significant step towards greater transparency in the finance department, minister Anam Ramanarayana Reddy has proposed "web-based financial management" of the state. Tenders will be called soon and the system will be in place in the next financial year. Presenting the state budget on Friday, the finance minister said the entire process of clearance of bills for payment relating to major works and projects taken up by different departments would be made available for viewing online by the stake-holders as well as citizens."The web-based comprehensive financial management system" is being developed. It will being in efficiency and transparency in the working of the finance department and improve cash management with the availability of real time data. It will also enhance monitoring of expenditure on all programmes," he said in the Assembly.Speaking to Express later, the minister said the budget estimates had been sent  online by 234 government departments. The entire process of verification, validation and finalisation of budget proposals was done online. "We have launched online financial management this year partially," Ramanarayana Reddy said."The stage is set for online release of budget orders from the beginning of the next financial year, completely eliminating delays due to paper work and facilitating ease of expenditure and timely implementation of schemes by all the departments," he said.After completion of any work, contractors  approach AEs, finance department and even the minister for clearance of bills. "Once the online financial management is introduced, contractors need not approach any one personally," he added. The tender process for the web-based financial management will be finalised soon. After that the department will consult the Centre for Good Governance before finalising the tenders.