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Sunday, July 05, 2020

No more new schemes to get FinMin nod in FY21

The Department of Expenditure, in an office memorandum dated June 4, told all departments and ministries there is “a need to use resources prudently in accordance with changing and emerging priorities”.

By: Express News Service | New Delhi | Published: June 6, 2020 12:43:36 am
Expenditure for schemes under the Prime Minister’s Garib Kalyan Package, the Atmanirbhar Bharat package and any other special package or announcement would be allocated, the memorandum said. (Source: Bloomberg/Representational)

The Finance Ministry will not approve any new scheme of any ministry or department in the ongoing fiscal as the Centre deals with “an unprecedented demand on public financial resources” in the wake of COVID-19. The Department of Expenditure, in an office memorandum dated June 4, told all departments and ministries there is “a need to use resources prudently in accordance with changing and emerging priorities”.

Expenditure for schemes under the Prime Minister’s Garib Kalyan Package, the Atmanirbhar Bharat package and any other special package or announcement would be allocated, the memorandum said. Also, schemes that are already approved for FY21 and the ones for which in-principle approval has been granted by the Department will be suspended till March 31, 2021 or further orders.

“No new proposals for a scheme/sub-scheme should be initiated this year (2020-21) except the proposals announced under the Pradhan Mantri Garib Kalyan Package, the Atmanirbhar Bharat Abhiyan package and any other special package/announcement,” it said. On existing ongoing schemes, the Department said it has already given an interim extension till March 31, 2021, or till the date the recommendations of the 15th Finance Commission come into effect, whichever is earlier.

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