Bengaluru (Karnataka) [India] Feb 12 (ANI/PRNewswire): In another step towards reforming the urban sector, the Govt of UP entered into a collaboration with eGov Foundation on January 31, 2020.
A Memorandum of Understanding (MoU) was signed to implement the municipal financial accounting system. This initiative is a part of the municipal accounting reforms across the entire state and covers all 652 ULBs (Urban Local Bodies) of Uttar Pradesh.
The MoU was signed by Sanjay Kumar Singh Yadav, Special Secretary, Urban Development, Govt of Uttar Pradesh and Viraj Tyagi, CEO, eGov Foundation, in the presence of other dignitaries from UP Govt and eGov Foundation.
Under the MoU, eGov Foundation will provide the accrual-based double-entry financial accounting application of DIGIT (Digital Infrastructure for Governance, Impact & Transformation) - India's largest open-source platform for urban governance.
The govt envisages digitizing the accounting records and operations, thereby strengthening the financial autonomy and financial sustainability of the ULBs. With this development, the Government of Uttar Pradesh has bolstered its commitment towards the national goal of capacity building and enhanced municipal service delivery.
"This partnership with eGov Foundation will further strengthen the revenue and expenditure management, capital budgeting, efficient management of assets and financial transactions thereby improve the credit-worthiness to raise additional resources from the market", said Manoj Kumar Singh, IAS Principal Secretary, Urban Development Dept, Govt.of Uttar Pradesh.
DIGIT Financial Accounting System will empower the ULBs with a comprehensive set of capabilities that includes expenditure management, receivables management, bank reconciliation, revenue management, an extensive list of reports per the need of the accounting system, state-level dashboards for assets, liabilities, income-expenditure tracking and financial ratios.
"Collaborating with eGov Foundation has strengthened our vision of promoting good governance in financial management. The key drivers that led to this partnership revolve around enhancing the elements of efficiency and accountability in municipal accounting, increasing the transparency of the process and improving the dissemination of financial information to the ecosystem", said Dr Kajal, IAS, Director, Local Bodies.
"Partnering with the Government of UP, we aim at catalyzing the urban governance for a greater good. Harnessing technology, eGov Foundation will digitize the accounting operations, drive efficient interactions between citizens and city administration and strengthen the transparency in the system. With this exemplary partnership, we will help UP Govt to strengthen the foundation for financial self-sufficiency, accountability, and sustainability of ULBs in the state", said Viraj Tyagi, CEO, eGov Foundation.
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