Development Commissioner cum Additional CS, Finance, Amit Khare on Monday stressed on quality of expenditure during his speech in a one day conference of Secretaries of all the states in New Delhi.
He said that Government fund expenditure should be result oriented. In this regard he mentioned about Jharkhand Government’s budgetary plan of third party evaluation of schemes to get result oriented plan expenditure.
Union Finance Ministry conducted a one day conference of Secretaries of all the states in New Delhi on Monday. Union Finance Minister Arun Jaitely inaugurated the conference. Additional Chief Secretary, Planning-cum-Finance Amit Khare participated in the daylong conference.
Several key financial issues were addressed during the conference.
Thrust was given on classification of expenditure of ‘revenue’ and ‘capital’ by the State and Central Government in the financial year 2017-18. Following points related to ‘revenue’ and 'capital' was discussed.
In the conference Accounting requirement of “Revenue ' and ' Capital expenditure was focused. From the financial year 2017-18 expenditure of revenue and capital will be classified respectively by the Centre and state Government. Process has been initiated in this regard. CGA will give guidelines for expenditure account classification during Financial Year 2017-18.
This initiative will facilitate resultant of public expenditure management and expenses. This will ease different account head exercises and direction of public expenditure will get more clarity through expenditure classification of ' revenue ' and '
capital '.
Initiative to connect Central assistance released in plan head with PFMS Portal has started.
Connection between state treasury and PFMS will help in addressing fund requirement and expenditure. It will help Data flow and Quick and effective decisions can be taken.