In 2025, the official visit of Sri. Manoj Sahay, Additional Secretary and Financial Advisor at the Ministry of Finance, Government of India, underscored India’s commitment to strengthening fiscal governance, deepening international cooperation, and promoting sustainable economic development. The visit brought together government officials, financial experts, and multilateral partners to exchange best practices and explore collaborative initiatives in public finance management.
Purpose and Objectives
The visit aimed to:
- Reinforce bilateral and multilateral ties on fiscal and financial matters.
- Share India’s experiences in budgetary management, expenditure control, and public procurement reforms.
- Explore opportunities for technical cooperation in areas such as public financial management (PFM), public–private partnerships (PPPs), fiscal transparency, and debt management.
- Discuss strategies for financing sustainable development and low-carbon transitions.
- Facilitate knowledge exchange between Indian financial authorities and host-country institutions, think tanks, and development partners. slot
Key Meetings and Engagements
- High-level government meetings: Sri. Sahay held bilateral discussions with finance ministers, secretaries, and senior officials to discuss macro-fiscal frameworks, fiscal consolidation strategies, and avenues for collaborative projects.
- Workshops and technical sessions: He led technical sessions on budget formulation, performance-based budgeting, financial oversight, internal audit strengthening, and results-based monitoring.
- Roundtable with multilateral partners: Dialogue with representatives from multilateral development banks, international financial institutions, and donor agencies to align financing for infrastructure and climate-resilient projects.
- Academic and think-tank engagements: Presentations and panels at universities and policy institutes on India’s reform journey in public finance, digitalization of government payments, and innovations in revenue mobilization.
- Site visits: Demonstrations of e-governance platforms, treasury modernization initiatives, and examples of successful PPP projects supported by effective fiscal frameworks.
Major Themes Discussed
- Fiscal discipline and sustainability: Emphasis on medium-term fiscal frameworks, rationalization of subsidies, and prudent debt management to support growth while maintaining fiscal health.
- Digital transformation in public finance: Showcasing India’s progress in digital payments, electronic treasury systems, and using data analytics for expenditure tracking and fraud prevention.
- Enhancing transparency and accountability: Measures to improve public procurement transparency, open budget initiatives, citizen engagement, and strengthening internal audit and parliamentary oversight.
- Financing climate and development goals: Mobilizing blended finance, green bonds, and concessional funding to support climate adaptation, renewable energy, and resilient infrastructure.
- Capacity building and technical cooperation: Programs for peer learning, staff exchanges, and tailored technical assistance to build institutional capacities in PFM and financial oversight.
Outcomes and Follow-up Actions
- Memoranda of understanding (MoUs) and cooperation agreements: Several agreements were proposed or signed to enable technical cooperation, training exchanges, and joint research on fiscal policy.
- Technical assistance programs: Commitments to provide capacity-building support in areas such as treasury modernization, debt management systems, procurement reforms, and performance budgeting.
- Knowledge-sharing platforms: Establishment of regular dialogs, webinars, and joint workshops to continue peer exchanges and monitor progress on agreed initiatives.
- Pilot projects: Identification of pilot projects for implementing digital treasury solutions, green finance instruments, and PPP frameworks tailored to host-country needs.
Significance and Impact
Sri. Manoj Sahay’s visit reinforced India’s role as an active partner in advancing sound public financial management and sustainable financing. The engagements fostered institutional linkages, created avenues for technical cooperation, and helped disseminate practical lessons from India’s reforms. For host countries and partners, the visit offered access to India’s practical experiences in scaling digital public finance solutions and mobilizing resources for inclusive growth. slot deposit 1k
Conclusion
The 2025 visit of Sri. Manoj Sahay, Additional Secretary & Financial Advisor, Ministry of Finance, Government of India, served as a catalyst for strengthened cooperation in fiscal governance and sustainable finance. Through high-level dialogues, technical exchanges, and concrete cooperation commitments, the visit laid the groundwork for continued collaboration aimed at improving public finance systems and supporting resilient, inclusive development.
