Department of Commerce achieves 99.45% of final plan expenditure and 100% implementation of PFMS and DBT

During the Financial Year 2016-17, Department of Commerce has expended Rs. 2454.58 Crore under Plan Schemes which works out of 99.45% of the final plan allocation. This achievement is the highest in last 5 Financial Years. In the year
2012-13 DoC has made 98.02% of expenditure under Plan Schemes, and expenditure was 96.86% in 2013-14, 96.50% in 2014-15 and 98.54% in 2015-16

1.                  Public Finance Management System(PFMS)

            As per the direction of Ministry of Finance & O/o CGA, PFMS which is Public Finance Management System was to be extended to all offices under control of Department of Commerce all over India. PFMS was also to be implemented in all autonomous Bodies, PSUs and other Trade Promotion offices under Department of Commerce. 

            In the Year 2016-17 Department of Commerce has achieved 100% implementation of PFMS in all its autonomous bodies, PSU’s and Trade Promotion bodies   all over India by 31^st March,2017. This enables Just-in-Time release of funds to these organizations thereby preventing unnecessary parking of funds.  

         

2.                  Direct Benefit Transfer(DBT)

            Cabinet Secretariat has instructed that all Grants-in-Aids (GIA) and Subsides     being given to beneficiaries, should be disbursed electronically through the Direct Benefit Transfer mode. As approved bySecretary,  Commerce in August,2016. Seven Organizations namely: - Tea Board, Coffee Board, Spices Board, Rubber Board, Tobacco Board, APEDA and MPEDA were selected for DBT implementation in DoC by 31^stMarch,2017.

            DBT was successfully implemented in all these organizations by 31^st March,2017. All the beneficiaries under these schemes, have been linked with AADHAR in most cases. Department of Commerce has thus achieved the target of 100% in DBT implementation by the stipulated timeline of 31^st March,2017.

            These achievements were possible due to constant monitoring and appraisal by the Department at the highest level throughout the year.

Courtesy: pib.nic.in