​​​
  1. FinMin issues new guidelines for approval of public-funded schemes

FinMin issues new guidelines for approval of public-funded schemes

Taking forward expenditure reforms, the finance ministry on Wednesday issued new forward-looking comprehensive guidelines for appraisal and approval of public-funded schemes and projects linked to outcomes.

By: | New Delhi | Updated: August 11, 2016 7:25 AM
GST, GST in Lok Sabha, GST latest news, Goods and Services Tax With the announcement in the latest Budget that Plan and non-Plan distinction would be done away with from FY18. (PTI Photo)

Taking forward expenditure reforms, the finance ministry on Wednesday issued new forward-looking comprehensive guidelines for appraisal and approval of public-funded schemes and projects linked to outcomes.

With the announcement in the latest Budget that Plan and non-Plan distinction would be done away with from FY18, it had become necessary to put in place an appraisal and approval system agnostic to such differentiation of expenses.

“The department of expenditure has accordingly undertaken a comprehensive review of the instructions issued over the last three decades, and replaced them with a simpler framework which will greatly improve the efficiency with which schemes and projects are appraised and approved in our system,” the ministry said in a statement.

The new guidelines will help bring in the concept of outcome evaluation to improve the delivery of public goods and services to the citizens, it said.

While administrative ministries have been delegated powers to appraise schemes and projects costing up to R500 crore through their Standing Finance Committee and Delegated Investment Boards respectively, specific time frame for appraisal have been laid down for speedier decision-making.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top