To provide funds necessary for UID implementation: FinMin



To provide funds necessary for UID implementation: FinMin

The government on Monday said it will provide all the funds necessary for the implementation of its unique identification number project, dismissing media reports to the contrary.

"The Ministry of Finance is fully committed to expeditious implementation of the UID project and all funds required for the smooth rollout of the project by the UID Authority will be provided," Finance Minister Pranab Mukherjee said in a statement.

Dismissing reports that said the Finance Ministry had slashed the budget for the UID project drastically, the statement said, "This is not the the correct position".

But the statement makes no mention of the exact amount of money to be provided for the unique identification (UID) project.

The Centre had proposed a nearly 16-fold increase in its annual budget to Rs 1,900 crore for the Unique Identification Authority of India (UIDAI), headed by Infosys founder Nandan Nilekani.

The 16-digit unique number is likely to be rolled out in 2011 and the aim of the project is to eliminate duplicate and fake identities.

The authority is expected to roll out the first number between August, 2010, and February, 2011.

The UID is currently tying up with various state governments and other agencies who will act as registrars and help in enrolling residents for the ambitious project.

 




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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