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Centre to launch online monitoring of funds
Hyderabad: There will be no need for the State government to submit utilisation certificates from April. The Central government is implementing a new system, called Public Finance Management System,
Hyderabad: There will be no need for the State government to submit utilisation certificates from April. The Central government is implementing a new system, called Public Finance Management System, which will monitor online the release and utilisation of funds in the State on day-to-day basis.
The Union Finance Ministry issued a circular to the State government, saying that it would oversee the utilisation of funds released to the centrally-assisted programmes on monthly basis initially and the monitoring would be carried out on day-to-day basis. It includes identification of the beneficiaries.
Top officials of the State Finance Department told The Hans India that the Finance Ministry would monitor closely the release of funds and expenditure incurred through online regularly in coordination with the Accountant General representing the Centre .
The State government has been instructed to interlink the online system directly with the Union Ministry before the beginning of the new financial year. The Union Ministry is also developing a new software to integrate the network with the State Finance Department.
The official said the State is expected to receive nearly Rs15,000 crore from the Union government under Centrally-sponsored programmes and grant-in aid this year.
Nearly Rs 9,000 crore is being utilised for the Centrally- sponsored schemes like Employment Guarantee programme, National Rural health Mission, Integrated Child Development Scheme, National Education Mission and Pradhana Mantri Krishi Sanchaye Yojana and PM Gram Sadak Yojana.
The new system would do away the traditional practice of the submission of utilisation certificates on the use of funds by the State governments to the Centre quarterly, officials said. The Centre would release funds based on the utilisation.
The monitoring wing in Union Finance Ministry - Public Finance Management System (PFMS) - has been asked to coordinate with the State government.
To speed up the process, officials said the PFMS Director Archana Nigam held a meeting with Chief Secretary S P Singh to find out about the progress in installing the new system.
The State Finance Department already appointed a group of officials to set up the new system in the Secretariat and create a network between and the Union Ministry and the Department.
