Bhubaneswar: The state government has put restrictions on the financial powers delegated to Startup Odisha and its officials for smooth functioning of the organisation.
According to official sources, the state government has issued new notification after cancelling instruction/ circular/ guidelines issued by the previous government relating to the delegation of financial power to Startup Odisha.
The MSME Department has issued fresh notification for the smooth functioning of Startup Odisha.
In supersession of any instruction, circular, guideline, notification issues earlier in this regard, the government now delegates revised financial power to Startup Odisha.
The financial power of the Executive Chairman of Startup Odisha is now up to Rs one crore.
Similarly, the financial power of the Board of Directors of Startup Odisha is up to Rs Ten crore, sources said.
Powers have also been fixed for advisors, outsourcing staff, construction work to be undertaken.
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