(a) the details of machinery for the right and appropriate use of loans received from the foreign countries;
(b) the details of works being undertaken under this machinery;
(c) the details of findings of the said machinery in its review during the last three years; and
(d) the action taken by the Government on facts so far as reported in the said findings?
THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) to (d) : The project proposals received from the State Governments / Central Ministries seeking external financial assistance are first screened by a Screening Committee in Department of Economic Affairs and are subsequently posed to external agencies depending on the preparedness, relevance and in keeping with the developmental priorities of the Government.
Government of India has developed various mechanisms to ensure that the objectives of foreign loans for various developmental projects are achieved in a timely manner. The monitoring of disbursements/ projects is done periodically through mechanisms, which, inter-alia, include Annual Negotiations/ Consultations and Review Meetings. Measures, based on these reviews, are also taken from time to time for effective management of flow of funds and better utilization of foreign loans.