Bhubaneswar, Aug 1: The state government has restricted the financial powers of the Startup Odisha authorities, including the executive chairman.
The decision was taken following allegations of irregularities and negligence to Odisha start-ups, said a senior official of the MSME department.
As per the notification issued by the MSME department, the financial power of executive chairman, Omkar Rai, has been limited to Rs 1 crore and that of board of directors up to Rs 10 crore. However, the MSME department (100 per cent shareholder of Startup Odisha) has the full power for sanctioning and incurring expenditure of any type, including schematic, non-schematic, recurring, non-recurring, revenue and capital, etc.
The MSME department will now take the decision for the engagement of consultants, hiring or outsourcing of services, construction works, procurement of goods and services, undertaking new projects etc., for which executive chairman, Omkar Rai was empowered earlier.
