FinMin clears 29 investment proposals worth Rs 2,11,049 crore

05 Jan 2017 Evaluate

The Expenditure Finance Commission (EFC) under Finance Ministry has cleared 29 Investment proposals or schemes of various Ministries including expenditure amounting Rs 2,11,049 crore during calender year 2016. Also, during the period, Public Investment Board (PIB) chaired by Expenditure Secretary has cleared 12 proposals including expenditure of Rs 28,673 crore.

Department of Expenditure (DOE) under Ministry of Finance in its year-end review for 2016 has said that the EFC chaired by Expenditure Secretary recommended 29 investment proposals of various ministries and departments costing Rs 2,11,049 crore, during the period from January 1 to November 30, 2016. It also noted that out of these proposals, 3 proposals of Ministry of Power amounting Rs 8,612 crore were cleared by the board during year 2016. It also said that proposals of Ministry of External Affairs and Ministry of Road, Transport and Highway involving investment of Rs 7,291 crore and Rs 6,461 crore, respectively, were also cleared.

Commenting on the Public Financial Management System (PFMS), it said that this web-based online software application has been fully implemented at the central government level for all plan and non-plan scheme releases. It also said that so far around 18 lakh implementing agencies are registered on PFMS and the total number of beneficiaries bank accounts registered in PFMS is 19.07crore till November 30, 2016. It added that PFMS treasury integration is currently operational in 12 states and integration process has been initiated in other states also. It is expected to be completed by March 31, 2017.

DOE has further said that during the year, the Controller General of Accounts (CGA) has developed a risk based control framework in the form of Generic Internal Audit Manual to guide the internal audit engagements. The manual not only explain the complexities associated with the internal audit functions but also facilitates the entire process by providing audit process, templates and guidelines. Highlighting the other achievements, DOE said that the Centralized Public Grievances Redressal and Monitoring System (CPGRAMS) has been effectively implemented and a total number of 4,475 out of 4,508 grievances have been successfully redressed/disposed off so far.

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