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| Rather for strict budget control mechanism | | | EARLY TIMES REPORT
SRINAGAR, JULY 19- Minister for Finance and Ladakh Affairs, Mr. A.R. Rather today called for strict budget control mechanism to safeguard States fiscal health, adding that the Financial Advisors and Chief Accounts Officers (FA & CAO) should work as watchdogs in the respective administrative departments is that pursuit. “They should in no way allow violation of financial rules and regulations,” Mr. Rather added.
Speaking at a high level meeting of the senior officers of the Finance Department, FA&CAO and other officers here today, Mr. Rather called for a deep understanding of responsibility adding that the institutions of FA&CAO operates like a mini Finance Department within an Administrative Department to monitor budget provisions and expenditures aptly and ensure fiscal discipline.
Monitoring of the expenditure process against sanctioned grants is the most vital responsibility of the FA/CAOs,” Mr. Rather asserted adding that maintenance of necessary Budget Control Register would be immensely useful and beneficial in this regard.
The meeting, among others, was attended by the Commissioner/ Secretary Finance, Mr. Sudhanshu Pandey, senior Deputy Accountant General, Mr. S.L. Bhan, Director General Accounts and Treasuries, Mr. Wali Mohammad Bhat, Director General Budget, Mr. Ravi Magotra, Director Audit & Inspections, Mrs Urmil Sharma, Director Funds Organization, Mr. G.M. BhatDirector Finance Resources, Ms Rashim Kashyap, Director Codes, Dr. Mohammad Ishaq Wani and all FA&CAOs of various departments.
Mr. Rather asked the FA&CAOs to closely associate themselves with the formulation of schemes as their role in this regard is vital. He also called for prompt response to AGs draft audit paras and speedy action on audit reports and appropriation accounts, reports of public accounts committee(PAC), Estimates Committee and Committee on Public Undertakings. He said it needs to be ensured that departmental accounts are maintained in accordance with the financial code. The Minister also urged for ensuring that fiscal verification of stores and stocks is done positively with in the first quarters of each financial year so that recovery of shortages, if any, noticed are made good in the first half of the financial year.
The Finance Minister expressed concern over the non- rendition of Red DC accounts which has adversely affected the compilation of correctness of the State accounts. He said that the Principal Accountant General has reported that an amount of Rs. 2970 crore is awaited as Red DC accounts adding that stern action under rules shall be taken against defaulting offices and officers.
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