The State Government in 2004 decided to mandate EDC with the management of Land Acquisition deposits. Since then as per the instructions issued by the State Government all the Departments, Corporations and other agencies, deposit the Land Acquisition amounts with EDC, as per the said procedure. The Land Acquisition Officers associated with the projects then withdraws these amounts for payment to the beneficiaries. . The above activity is managed by EDC as an agency business. EDC maintains project wise records and data pertaining to all the financial transactions. The list of Departments and Projects which have deposited the amount is updated regularly. Each project has been allotted a 7 digit Alphanumeric Code. The process flow has been standardized and streamlined. On request from the Land Acquisition Cell the payments are released within 7 working days. EDC also pays interest @8% p.a., as per instructions issued to the Finance Department, Govt. of Goa.