Bengal finance department asks for return of unused funds
Debashish Konar | TNN | Updated: Jan 25, 2019, 23:21 IST
Representative image. KOLKATA: The state finance department last week asked all the departments to refund all the unutilized funds of different development schemes by January 31, so that it can be used by departments which need an augmentation of funds.
HK Dwivedi, additional chief secretary of finance department in his missive of January 16, asked all the departments to gauge the needs of the department and the money that can be actually utilized. Even funds with the deposit account have to be refunded, an official said and added that there was earlier a trend among the departments to go for fixed deposits through unused funds. But now the state government is trying to make it a strict no no so that unused money is not stored in fixed deposits.
Dwivedi has asked the departments to send the proposal of refund of funds immediately and not to allocate any further funds which are going to be deposited. The finance department will then withdraw the funds. Moreover, funds lying with the deposit accounts have also to be sent back, an official said. He said that once the money from the departments is returned then the departments which are unable to utilise funds will get lesser share during the budget allocation of 2019-20 for which some of the departments might try not to send the actual unused funds and those lying idle in deposit accounts, the official said.
The official said that already through the portal of the finance department — IFMS (integrated financial management system), the finance department is trying to take stock of the situation of unused funds. He said that around 32 departments were asked to refund funds in January 2018, as they had failed to use it properly. Officials said that earlier the state finance department was able to take hold of over Rs 1,200 crore from various departments and hoped this year too an equal amount can be spotted, as they are going to scan the PL account as well.
HK Dwivedi, additional chief secretary of finance department in his missive of January 16, asked all the departments to gauge the needs of the department and the money that can be actually utilized. Even funds with the deposit account have to be refunded, an official said and added that there was earlier a trend among the departments to go for fixed deposits through unused funds. But now the state government is trying to make it a strict no no so that unused money is not stored in fixed deposits.
Dwivedi has asked the departments to send the proposal of refund of funds immediately and not to allocate any further funds which are going to be deposited. The finance department will then withdraw the funds. Moreover, funds lying with the deposit accounts have also to be sent back, an official said. He said that once the money from the departments is returned then the departments which are unable to utilise funds will get lesser share during the budget allocation of 2019-20 for which some of the departments might try not to send the actual unused funds and those lying idle in deposit accounts, the official said.
The official said that already through the portal of the finance department — IFMS (integrated financial management system), the finance department is trying to take stock of the situation of unused funds. He said that around 32 departments were asked to refund funds in January 2018, as they had failed to use it properly. Officials said that earlier the state finance department was able to take hold of over Rs 1,200 crore from various departments and hoped this year too an equal amount can be spotted, as they are going to scan the PL account as well.
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