An integrated fiduciary assessment hasbeen carried out to evaluate the arrangementsrelevant to theBihar Teachers Education Program to determine whether theyprovide reasonableassurance that the Program funds will beused for their intended purpose. Based on theassessment andagreement on actions required to strengthen the system,which are reflected inthe DLIs and PAP the overall fiduciaryframework for program are considered adequate tosupportprogram management and to reach the desired results. Similarto other states in India, the GoB has a well-developedbudgetary framework that ensures allocation of adequateresources to departments and programs. GoB has not facedsignificant fund constraint and there is sufficientpredictability in availability of resources, albeit fundreleases tend to be significantly higher in the last quarterof the financial year; As per standard practice and in orderto maintain transparency in GoBs financing, two exclusivebudget lines have been allocated to this program segregatingbetween revenue and capital expenditures; a significantproportion of the activities i.e. civil works, ICTprocurement and key consultancies, under the program will beundertaken by BSEIDC which operates outside the treasurysystem and uses commercial banking channels for financialflows and payments. Fiduciary framework in the state andconsequently the Program, are guided by several rules andlegislation including the Bihar Financial Rules, TreasuryCode and Budget Manual, PWD Manual and the Companies Act(2013) in case of BSEIDC.
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