The Delhi government on Wednesday announced its “Policy Impact Fund” for better budgeting and implementation of its programmes and schemes, starting with an annual allocation of Rs 5 crore. This is 0.01 per cent of state’s annual budget.
The move was announced by Delhi Deputy Chief Minister Manish Sisodia during a lecture series at the Delhi Secretariat. Sisodia claimed it would “prove to be a game changer in governance.”
“With this Delhi will become the first state to invest in the analysis of outcomes of government policies. This is to generate highest bar of evidence on how well policies are functioning and how can they be made more effective,” he said.
During the event, economists Abhijit Banerjee and Esther Duflo, both from the Department of Economics, Massachusetts Institute of Technology (MIT) delivered keynote lectures on ‘Evidence-based policymaking’ and ‘Monitoring & Evaluation’ respectively.
“An evidence-based approach requires systematic collection, timely review, detailed analysis and effective use of data related to the performance of government programmes,” said Banerjee.
“Therefore, availability of credible data in a timely manner is essential for key decisions, such as to plan new programmes and policies, track and improve implementation, allocate resources and so on.”