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Tuesday, November 30, 2021

Rs 1,946 cr funds lying unutilised, finds TN special task force

State Finance Minister P Thiaga Rajan said on Monday that the state government was putting in place a State Level Public Financial Management System (PFMS) mechanism to ensure that funds do not remain idle, and to track their flow till they reach beneficiaries of government schemes.

By: Express News Service | Chennai |
Updated: November 2, 2021 12:51:48 am
The Special Task Force (STF) was set up in line with a budgetary announcement made earlier this year by Tamil Nadu Finance Minister Palanivel Thiaga Rajan

A SPECIAL Task Force constituted by the DMK government has identified Rs 1,946.31 crore funds as unutilised by various government departments and agencies that can be remitted back to the government account. The task force was constituted to reconcile, identify and access the funds kept outside the treasury by the government departments, societies, statutory institutions, local bodies.

State Finance Minister P Thiaga Rajan said on Monday that the state government was putting in place a State Level Public Financial Management System (PFMS) mechanism to ensure that funds do not remain idle, and to track their flow till they reach beneficiaries of government schemes.

The PFMS will ensure that funds are released only after those already released have been utilised. “In case funds are not utilised within the stipulated time, they will be returned to the government,” Thiagarajan said.

Rajan said the economic advisory council helping Chief Minister M K Stalin also supports a data-centric governance of beneficiaries of larger government welfare schemes, such as Public Distribution System and Old Age Pension.

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