The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY), launched in 2015-16, aims to enhance water use efficiency (WUE) through modern tools such as the Supervisory Control and Data Acquisition (SCADA) system, micro-irrigation, and pipe distribution networks. The initiative seeks to reduce water allocation for agriculture from 70% to 50% while ensuring better on-farm water access, expanding irrigated areas, improving water efficiency, and promoting sustainable water conservation practices.
As part of this effort, the Ministry of Jal Shakti and the Central Water Commission (CWC) have commissioned the National Council for Applied Economic Research (NCAER) to assess the indirect and intangible benefits of major irrigation projects. These studies aim to include these benefits in evaluating the techno-economic viability of irrigation projects, focusing on both national and location-specific advantages.
Indirect/Intangible Benefits:
1. National Benefits:
- Increased National Resources: Irrigation supports resource conservation, enhances land productivity, and enables the production of nutritionally vital foods (e.g., fruits, vegetables, and dairy products).
- Increased Stability: Irrigated agriculture reduces vulnerability to droughts, ensuring crop stability and stable income for farmers.
2. Location-Specific Benefits:
- Benefits to farmers, traders, property owners, and suppliers in project command areas.
Overall, the PMKSY integrates tangible and intangible benefits to provide a broader understanding of irrigation projects’ socio-economic and environmental impacts.
Action Research & Research Studies wing of the Ministry of Panchayati Raj (MoPR) has awarded the study to the National Council of Applied Economic Research (NCAER) to assess the impact of Central Finance Commission’s (CFC) grant to the Rural Local Bodies (RLBs). The idea of fiscal devolution in India revolves around transferring financial resources from the central government to states and subsequently to local governments, with the goal of empowering grassroots-level governance to address development needs effectively. This process has been a cornerstone of India’s federal structure, aiming to ensure equitable resource distribution across diverse regions.
The Central Finance Commission (CFC) plays a critical role in India’s fiscal federalism by recommending the distribution of resources between the central and state governments, as well as allocations to Panchayati Raj Institutions (PRIs).
When analysing the impact of CFC grants at the Panchayat level, it is essential to examine how these funds affect various sectors critical to rural development and governance.
Objectives
- To study the impact of Central Finance Commission (CFC) grants at the Panchayat levels across different sectors
- To examine/ascertain if CFC funds are being utilized by Panchayats have resulted in assets for OSR generations
- To examine the current state of assets created in Panchayat from CFCs and the state of their operations and maintenance
- To highlight the progress of States on compliance of recommendations made by the 15th Finance Commission
- To assess the effectiveness of the CFC grants with other schemes in the GPs such as MGNREGA, NRLM, JJM, SBN (G)), if the effective utilization of CFC funds is linked.
- To identify major problems / challenges faced by RLBs and make recommendations for the considerations of the 16th Finance Commission
- To analyse effectiveness of attaching conditionalities to grants (tied grants).
NCAER is working closely with the Finance Commission as a knowledge partner.
The specific issues that we are helping the 16th Finance Commission with include –
(i) State-Level Diagnostic Reports and Policy Briefs;
(ii) Analysis of States’ Fiscal Situation and Debt Sustainability;
(iii) State-Level Growth: Possibilities of Convergence Across States;
(iv) Analyzing the features and efficacy of Horizontal Devolution Formulae proposed by various Finance Commissions; and,
(v) Medium Term Framework and new Fiscal rules for the Union and the states.
The Investor Education and Protection Fund Authority (IEPFA), Ministry of Corporate Affairs, GoI and NCAER, under an MoU in March 2020 established the IEPF Chair Unit at NCAER to promote investor education and protection through impactful events, seminars, workshops, conferences, and research. Traversing through the COVID-19 pandemic, the unit transitioned majorly from virtual events to in-person activities under the leadership of the present Chair. The key initiatives include organizing workshops, seminars, conferences, collaborating with financial and educational institutions, publishing research articles, working papers and op-eds, while engaging in targeted investor awareness campaigns with specialized outreach programs for youth, women, and rural children. It also updated IEPFA’s Knowledge Product: the IEC material.
The areas of intervention of this IEPFA-NCAER partnership include Investor Education and Protection, financial literacy, inclusivity, and cybersecurity, fraud prevention etc. The IEPF Chair’s engagements also included guest lectures, panel discussions, and media talks on areas like financial literacy and education.
As the current year concludes, building on the grand success of the partnership, the unit prepares for its work program to be launched under the proposed extended partnership for next five years, 2025-30, aiming to broaden the outreach and further strengthen collaborations to advance investor education, financial inclusion, and investor protection.
This study explores the claim settlement processes of financial regulatory frameworks across the globe, focusing on statutory provisions, dormancy periods, post-dormancy actions, and the role of digital tools. By examining frameworks in a number of systemically important jurisdictions including the United States, Canada, the United Kingdom, Australia, and India, the study highlights best practices in managing unclaimed financial assets and safeguarding investor interests. It also identifies key challenges, such as inconsistencies in dormancy rules and varying levels of digital adoption, which impact claim efficiency. The findings, while nothing down the positives , aim to provide insights for enhancing claim settlement mechanisms in India, fostering greater investor protection and financial inclusion.
