Thursday, 6 April 2017

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 Rs2454.58 Crore under Plan Schemes which works out of 99.45of the final plan allocationThis achievement is the highest in last 5 Financial YearsIn the year
-13 DoC has made 98.02of expenditure under Plan Schemes, and expenditure was 96.86in 2013-14, 96.50in 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 IndiaPFMS 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 100implementation of PFMS in all its autonomous bodies, PSUs and Trade Promotion bodies   all over India by 31st March,2017This 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 (GIAand Subsides     being given to beneficiaries, should be disbursed electronically through the Direct Benefit Transfer modeAs approved bySecretary,  Commerce in August,2016Seven Organizations namelyTea Board, Coffee Board, Spices Board, Rubber Board, Tobacco Board, APEDA and MPEDA were selected for DBT implementation in DoC by 31stMarch,2017.

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

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


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Text of PM’s address at the convocation of Visva Bharati University at Santiniketan in West Bengal

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