UP Govt. Inks MoU With eGov Foundation for State-wide Implementation of Municipal Financial Accounting Platform

BANGALORE, Feb. 12, 2020 /PRNewswire/ -- In another step towards reforming the urban sector, the Govt of UP entered into a collaboration with eGov Foundation on 31st January, 2020.

A Memorandum of Understanding (MoU) was signed to implement 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 Shri. 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 to digitize 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 Shri 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, 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.

Viraj Tyagi, CEO, eGov Foundation, expresses, "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."

About eGov Foundation

eGov Foundation was established in 2003 by Nandan Nilekani and Srikanth Nadhamuni to partner with city administrators in their drive to leverage the transformative power of technology for better quality of life in our cities and to make them sustainable.

In order to address the need for scale and speed eGov has built DIGIT platform- a Public Digital Good that can be used by Governments, Enterprises and civil society to co-create and deploy locally relevant solutions.

Over the last 16 years, we have partnered with more than 900 towns and cities across India and more than 12 Cr Citizens have benefited from our platform. And we know there is much more to do to build a thriving, digitally-enabled ecosystem in all 4400+ towns and cities in India.

Photo: https://mma.prnewswire.com/media/1089500/Uttar_Pradesh_eGov_Foundation_MoU.jpg

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