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Finance | June 2012

Govt urges urban department to spend at least 25 per cent fund

 Orissa government urged housing and urban development department to spend at least 25 per cent of allocated fund in the first quarter of 2011-12. As per Cash Management System (CMS) guidelines, departments must spend at least 15 per cent of fund allocation in the first quarter of any fiscal. However, the state finance ministry plans to weak the guidelines for housing and urban development department since spending of allocated funds is the top priority. For all other departments, CMS mandates spending of at least 15 per cent of fund allocation in the first quarter of any fiscal.A meeting was held to review expenditure by 13 government departments that account for 71 per cent of the total Plan provision. While the administrative departments are free to enhance spending in the first three quarters, they are required to cap the expenditure at 40 per cent in the last quarter and 15 per cent in the last month (March) as per CMS. In case of externally aided projects in the pipeline, expenditure needed to be incurred only if agreement with the donor agency has been signed and the date of effect of the agreement has been notified.

Odisha government  
Tel:+91-674-2586584
Fax:+91-674-2582842
Email:itsec@ori.nic.in
www.odisha.gov.in    

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