Bhubaneswar: Ace Mandarin, Sanjeeb Kumar Mishra has assumed charge as the new Principal Secretary of the Finance Department in Odisha, drawing a wave of positive sentiment from key industry players.
Known for his unwavering honesty, diligence, impartiality, and pro-people approach, Shri Mishra’s presence in the critical finance portfolio is being hailed as a significant development for the state’s economic future.
Rajib Sekhar Sahoo, Chairman of the Indian Chamber of Commerce (ICC) Odisha State Council, expressed strong optimism following a detailed discussion with Principal Secretary Shri Mishra.
“Shri Mishra is a positive thinking mandarin, and his presence in the Department of Finance has been a welcome change,” stated Shri Sahoo, an acknowledged expert in the banking and finance sector.
This endorsement from the ICC Odisha Chief underscores the confidence the business community places in Shri Mishra’s leadership.
Shri Mishra’s appointment comes at a crucial juncture for Odisha’s finance. The state, like many others, faces challenges in optimizing resource mobilization, managing debt, and ensuring efficient expenditure.
Recent policy shifts, such as the mandated prior finance department approval for all outsourcing appointments across government departments, indicate a proactive approach to tightening financial controls and ensuring transparency.
One of the pressing issues that had recently garnered attention was the Odisha government’s decision to restrict business and deposit transactions with certain private banks (namely HDFC Bank, ICICI Bank, and Axis Bank) due to their perceived poor performance in state-run schemes and general banking parameters. This move had initially generated some negativity within the banking community.
However, in a significant development signaling a responsive administration, the State Government has already reversed this decision.
The restrictions were lifted after top officials from the affected banks met with Chief Minister Mohan Charan Majhi and provided written assurances to improve their performance in priority sector lending and credit-to-deposit ratios. This swift action demonstrates the State Government’s willingness to engage and adapt, ensuring stability and confidence in the financial ecosystem.
With a positive-thinking and action-oriented mandarin like Sanjeeb Kumar Mishra at the helm, stakeholders are hopeful for a period of robust fiscal management, enhanced financial efficiency, and a renewed drive towards sustainable economic growth for Odisha.
The new Principal Secretary’s immediate engagement with a diverse stream of visitors from the Industry, Banking, and Finance sectors, including Laxmi Kanta Mishra, DGM of Punjab National Bank, Bhubaneswar Circle, signals a collaborative and open-door policy.
This proactive engagement is expected to foster stronger partnerships and address prevailing financial issues with a shared vision for growth and stability.
This open dialogue is crucial as Odisha continues to tackle other financial challenges, such as optimizing budget utilization across various departments and managing its overall debt.
Reports have indicated that several departments have lagged in spending their allocated funds, a bottleneck that Shri Mishra will likely focus on addressing to accelerate development projects and social welfare programs.
With a mandarin of Shri Mishra’s caliber and positive disposition at the helm, stakeholders are hopeful for a renewed focus on fiscal prudence, streamlined financial processes, and an environment conducive to economic prosperity in Odisha.