Bhubaneswar, June 14: Authorities of the Xavier University here have decided to set up a centre of excellence in fiscal policy and taxation, in collaboration with the state government.

Vice-chancellor of the varsity Paul Fernandes said the centre would be built on the city campus of the Xavier Institute of Management's for Rs 12 crore. To begin with, there will be 60 seats. Classes will start from this academic year.

The two-year fulltime postgraduate programme, claimed to be the first of its kind in the country, will focus on four areas - human development, sustainability leadership and entrepreneurship, climate change and natural resource management, and sustainable energy. The centre will conduct research on the overall fiscal policies of the state, providing assistance to the finance department for budgetary activities, making analysis on fiscal and taxation issues and also imparting training for the officers of the finance department, publish research works and journals, and provide a forum for interaction between the finance department officials and academicians.

It will also help institutionalise the implementation of the Odisha Fiscal Responsibility and Budget Management (FRBM) Act.

The university is also launching the Xavier School of Sustainability that will provide an MBA programme in sustainability management.

In May, the National Bank for Agriculture and Rural Development (Nabard) had instituted a chair unit at the Xavier Institute of Management. It will be the third Nabard chair in the country, only next to IIM Ahmedabad, and Institute of Rural Management, Anand.

A professor will manage the Nabard chair and the unit will work on various emerging areas of research, especially those concerning the agriculture community in the country. Research will also be conducted on issues relating to climate change, rural livelihood, financial inclusion, value chain management, agriculture marketing, and financial product development.

"In the next three to five years, this Nabard chair shall undertake research on replication of sustainable producer organisation, sustainable agriculture social wealth creation, and sustainable governance to provide greater understanding on the issues of implementation and policy guidance in agriculture and overall rural development," said Fernandes.

"Agriculture has been a way of life in the country and our farmers face many problems nowadays, starting from delayed monsoon to crop damage, from irregular rains to hailstorms. The research would also be on adaptation mechanisms to deal with such effects of climate change," said Nabard chief general manager M.V. Ashok, while signing the memorandum of understanding.

According to the agreement, the Nabard will sponsor the chair for three years. The partnership will be extended after judging the outcome, said Ashok.

Amar K.J.R. Nayak, professor of strategic management, has been selected to be the chair professor and lead the research activities and policy advice on agriculture as well as rural development.