single nodal company: FM Nirmala Sitharaman to launch single nodal company dashboard on Tuesday

“The dashboard depicts releases made to totally different states by ministries, additional releases made by state treasuries to the SNA accounts, expenditure reported by the businesses, curiosity paid by banks to SNA accounts and many others. in intelligible, informative and visually interesting graphics,” it mentioned.

“The SNA dashboard of PFMS will present a platform for ministries/ departments to watch their switch of funds to states, its utilisation by the implementing businesses and help in money administration of the federal government,” the ministry tweeted.

The SNA dashboard varieties a part of public monetary administration reform that was initiated in 2021 almost about the way by which funds for Centrally Sponsored Schemes (CSS) are launched, disbursed and monitored.

“This revised process, now known as the SNA mannequin, requires every state to establish and designate a SNA for each scheme. All funds for that state in a specific scheme can be credited on this checking account, and all bills can be made by all different implementing businesses concerned from this account,” the ministry mentioned in a press release.

The SNA mannequin, due to this fact, ensures that allocation of funds to states for the CSS are made in a well timed method and after assembly varied stipulations.

“Efficient implementation of this mannequin has caused larger effectivity in CSS fund utilisation, monitoring of funds, pragmatic and just-in-time launch of funds to the states; finally all contributing to higher money administration of the federal government,” it added.

The dashboard is being launched as a part of the enduring week celebrations of Azadi Ka Amrit Mahotsav by the finance ministry.