ANNOUNCEMENT FOR SHORT TERM-TRAINING (7-Nov-2017)

The Ministry of Finance is pleased to inform that the IMF’s Institute for Capacity Development (ICD) is offering a one-week course on Public Investment Management (SA17.19, PIM) at the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) in New Delhi, India. The course will be held from December 4 – 8, 2017.

Therefore, interested candidates who fulfills the eligibility may apply through online using the link given below. The deadline application is 8th November, 2017.

https://www-ins.imf.org/TAS/signon.aspx?pkey=SA17.19E
OR
http://imf.smartcatalogiq.com/en/current/Catalog/India-SAT?type=BA99FBED746E4A89B191E882932443EC&startYear=2017&startMonth=12#tabs

Further details is given in the course description below:
Public Investment Management (PIM)
Course No: SA 17.19
Location: New Delhi, India
Date: December 4 – 8, 2017
Language: English

Target Audience:

Mid- to senior-level officials responsible for managing public investment or development expenditure in ministries of finance.

Qualifications:
Participants are expected to have a degree in economics or equivalent, experience in project appraisals, medium term budgeting, accounting for public investment spending, procurement of large investment projects and project management.

Course Description:
This course, presented by the IMF’s Fiscal Affairs Department, looks at planning large capital spending projects, how to allocate resources to projects which have been properly costed and evaluated, and regular monitoring of investment projects. Data analysis is provided on public investment efficiency scores based on regional, global and emerging market country averages. The assessment tool assesses 15 dimensions relating to planning, allocation and implementation of public investment projects. The PPP Fiscal Risk Assessment Model (P-FRAM) will enable participants to identify fiscal risks, fiscal impact as well as define mitigation and priority actions related to Public-Private Partnerships (PPPs).

Course Objectives:
Upon completion of this course, participants should be able to:
• Understand the PIMA diagnostic tool to improve efficiency of public investment spending.
• Identify weaknesses in their own countries across all 15 dimensions related to the 3 phases of public investment spending.
• Understand the IMF’s tool on PPP’s and see the linkages to PIMAs.
• Use the tool to identify fiscal risks from PPPs in their own countries.
• Benefit from the experience of countries in the region who have undergone a PIMA.
For further information regarding the course and application, you may contact Ms. Shaveta Gulati at +91 11 49281019, email at sgulati@imf.org or Mr. Debraj Chaudhuri at +91 11 49281024, email at dchaudhuri@imf.org.

HR DIVISION

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Notification on GST on import of services from India (30-Oct-2017)

This is to notify all that Goods and Services Tax (GST) on imports of following services from India to Bhutan are now exempted as per the notification issued by the Central Board of Customs & Excise, Government of India.

(1) GST on import of services from India to Bhutan where payments are made in Indian Rupees are exempted vide notification no. 42/2017-Integrated Tax (Rate) dated 27th October 2017. Kindly refer to www.cbec.gov.in/resources/htdocs-cbec/gst/notfctn-42-igst-rate-english.pdf for detail information.

(2) GST on supply of services associated with transit cargo via Indian territories to Bhutan are exempted vide notification no. 30/2017-Central Tax (Rate) dated 29th September 2017. Kindly refer to www.cbec.gov.in/resources/htdocs-cbec/gst/notfctn-30-CGST-rate-english.pdf for detail information.

For any other information related to Indian GST, please visit www.cbec.gov.in/htdocs-cbec/gst/index.

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2017 Annual Meetings of the World Bank Group and International Monetary Fund (23-Oct-2017))

PRESS RELEASE
2017 Annual Meetings of the World Bank Group and International Monetary Fund (13-15 October, 2017)

The 2017 Annual Meetings of the Board of Governors of the World Bank Group (WBG) and International Monetary Fund (IMF) was held in Washington, D.C., USA from 13-15 October, 2017. The Hon’ble Finance Minister, Lyonpo Namgay Dorji, in the capacity of the Board of Governors to the WBG, led the RGoB delegation.

The Board of Governors of the WBG and the IMF meet once a year to discuss the work of their respective institutions. The Annual Meetings bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern including the world economic outlook, poverty eradication, economic development, and aid effectiveness. The meeting also features seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system.
On the sideline of Annual Meetings, the RGoB delegation also held bilateral meetings with various donor agencies and senior management of the World Bank Group and IMF and discussed issues of mutual interest. The Hon’ble Finance Minister also had courtesy meeting with Ms. S Aparna Subramani, the Executive Director of the World Bank for India, Bangladesh, Bhutan and Sri Lanka who was recently appointed to the post.

En-route to Bhutan, the Hon’ble Finance Minister attended the RemitBhutan Review Meeting with the Royal Monetary Authority (RMA) delegation on 17th October, 2017 in New York. The Hon’ble Finance Minister also launched the RemitBhutan initiative in United Arab Emirates (UAE) and Kuwait on 19th and 21st October, 2017 respectively in collaboration with the RMA and the financial institutions (BoBL, BNBL, DPNBL, and TBank Ltd).

The opening Session of the 2017 Annual Meeting Plenary by the World Bank Group President Dr. Jim Yong Kim.

H.E. Lyonpo Namgay Dorji with the World Bank Vice President for South Asia Region, Ms. Annette Dixon on the sidelines of 2017 Annual Meetings of WBG/IM

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