Commerce Ministry spent 99.45% of FY17 plan outlay, highest in 5 yrs
NEW DELHI: Commerce Ministry today said it has spent Rs 2,454 crore under various plan schemes, which is 99.45 per cent of the allocation -- the highest in last five fiscals.
In 2012-13, 98.02 per cent of the allocation was spent for plan schemes, while the figure was 96.86 per cent in 2013-14, 96.50 per cent in 2014-15 and 98.54 per cent in 2015-16, an official statement said.
"During the financial year 2016-17, Department of Commerce has expended Rs 2,454.58 crore under plan schemes which works out to 99.45 per cent of the final plan allocation. This achievement is the highest in last 5 financial years," the statement said.
Besides, the Commerce Ministry has achieved 100 per cent implementation of PFMS in all its autonomous bodies, PSUs and Trade Promotion bodies all over India in the last fiscal.
"This enables Just-in-Time release of funds to these organisations thereby preventing unnecessary parking of funds," it said.
Public Financial Management System (PFMS) tracks fund disbursement and ensures that state treasuries are integrated with the Centre for smooth fund flow.
PFMS was to be extended to all offices, autonomous bodies and PSUs under the control of Commerce Ministry.
With regard to transfer of grants and subsidies to beneficiaries electronically through the Direct Benefit Transfer (DBT), the statement said that 7 organisations -- Tea Board, Coffee Board, Spices Board, Rubber Board, Tobacco Board, APEDA and MPEDA -- were selected for DBT implementation by March 31.
"DBT was successfully implemented in all these organisations by March 31. All the beneficiaries under these schemes, have been linked with Aadhaar in most cases. Department of Commerce has thus achieved the target of 100 per cent in DBT implementation by the stipulated timeline of March 31," it said.
In 2012-13, 98.02 per cent of the allocation was spent for plan schemes, while the figure was 96.86 per cent in 2013-14, 96.50 per cent in 2014-15 and 98.54 per cent in 2015-16, an official statement said.
"During the financial year 2016-17, Department of Commerce has expended Rs 2,454.58 crore under plan schemes which works out to 99.45 per cent of the final plan allocation. This achievement is the highest in last 5 financial years," the statement said.
Besides, the Commerce Ministry has achieved 100 per cent implementation of PFMS in all its autonomous bodies, PSUs and Trade Promotion bodies all over India in the last fiscal.
"This enables Just-in-Time release of funds to these organisations thereby preventing unnecessary parking of funds," it said.
Public Financial Management System (PFMS) tracks fund disbursement and ensures that state treasuries are integrated with the Centre for smooth fund flow.
PFMS was to be extended to all offices, autonomous bodies and PSUs under the control of Commerce Ministry.
With regard to transfer of grants and subsidies to beneficiaries electronically through the Direct Benefit Transfer (DBT), the statement said that 7 organisations -- Tea Board, Coffee Board, Spices Board, Rubber Board, Tobacco Board, APEDA and MPEDA -- were selected for DBT implementation by March 31.
"DBT was successfully implemented in all these organisations by March 31. All the beneficiaries under these schemes, have been linked with Aadhaar in most cases. Department of Commerce has thus achieved the target of 100 per cent in DBT implementation by the stipulated timeline of March 31," it said.
