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Concerned State : Arunachal Pradesh
Concerned Department : Department of Finance
Title of Announcement : Comply with ‘State Fiscal Responsibility and Budget Management Act: Sharma
Concerned Date :
09 / 05 / 2015
Details :
Arunachal Pradesh Governor Lt Gen (Retd.) Nirbhay Sharma said that the state government must put in place a mechanism to ensure that The Arunachal Pradesh Fiscal Responsibility and the Budget Management Act is strictly complied with.
To ensure financial prudence, Sharma advised the state government to maintain effectively the consolidated Sinking Fund account and create a Contingency Fund account for catering to the financial liabilities accrued over a period of time and unforeseen expenditure.
The Governor said this while reviewing the current financial position of the state with the Chief Minister and senior officers in a meeting on May 8.
Reiterating the importance of the process of making the budget document, he asked the State government to make it realistic one. There must not be wide variation between the budget estimates and the actual, he said.
The coming budget document must ensure that the committed liabilities are met on priority involving salaries, wages and pensions and outstanding payments, said the Governor, and asked the state government to ensure that Utilization Certificates of various centrally sponsored schemes must be furnished timely.
The Governor advised the State Government to ensure that there should not be and must not be recurrence of the overdraft leading to stoppage of payments.
The Chief Minister apprised the Governor of the financial constraints being faced by the State due to past accumulative liabilities on account of various factors. The current financial constraint is due to inadequate allocations in the Thirteenth Finance Commission and non-plan liabilities accrued on account of Sixth Pay Commission recommendation and annual Dearness Allowance and salary increment factors, according to him.
The consistent increase in non-plan revenue expenditure has been one of the major causes of concern for the Government, the Chief Minister said while informing that overdraft has been cleared w.e.f. 01-05-2015.
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