All state govt depts should surrender unutilised funds by Jan 31 Finance

first_imgKolkata: The state Finance department has recently issued a notification asking all state government departments to surrender funds that are lying unutilised by January 31. The move will enable the Finance department to re-allocate the surrendered amount to those departments which require the augmentation of funds for implementation of their development and welfare programmes.”The formal proposal for surrender of funds should be sent to the Finance Department through e-office and not by a letter or via e-mail. The administrative departments should ensure that the fund proposed to be surrendered is available in e-bantan (distribution) at the department level. If the funds are lying in the directorates/districts, the administrative departments are requested to first withdraw it to their level before sending the proposal to the Finance department. Further, no funds should be sub-allotted from the heads of account for which surrender proposal has been sent to the Finance department,” read the notification. Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedIn a review meeting held two months back regarding the implementation of state development schemes, the administrative departments were requested to assess the requirement or utilisation of funds depending on the schemes being implemented and their progress during the next four months. They were then asked to surrender the funds that are likely to remain unutilised under the state development schemes. The notification undersigned by H K Dwivedi, Additional Chief Secretary of the Finance department, stated that the process of fund surrendering will be completed only when the department is able to withdraw the amounts electronically from the budget of the administrative department in the Integrated Financial Management System (IFMS) to its i-Budget system. It may be mentioned that financial performance of the departments in utilisation of funds would be assessed on the net funds available with them after factoring in the augmentation and surrender of funds.last_img

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