Odisha Mineral Bearing Areas Development Corporation (OMBADC) was formed as a Section 25 company on 2nd December, 2014 as per the directive of Hon,ble Supreme court of India for undertaking specific tribal welfare and area development works so as to ensure inclusive growth of the mineral bearing areas'As per mandate, OMBADC will finance projects executed by Line Departments relating to livelihood intervention, health, water supply, sanitation, education etc'from the funds maintained in PL Account of OMBADC. Hence, there is a need to lay down some fundamental principles regarding project financing, execution monitoring applicable to all line Departments, Heads of Departments, Subordinate offices and State Level PSUs or Autonomous Agencies under their administrative control.