Online System for Credit Confirmation and Release of Funds
Published in Finance. Tags: Online Service.
Online System for Credit Confirmation and Release of Funds – Mandated
Government of West Bengal
No. 666-F.B. Dated: 02nd September, 2014.
Sub: Introduction of Online System for Credit Confirmation and Release of Funds.
At present Different Departments are sending files to Finance (Budget) Department for confirmation of credit of funds received from Government of India as Central Assistances to State Plan Schemes [erstwhile CS/CN Schemes] and release of such funds from the State Budget. A considerable time is elapsed between sending a file for Credit confirmation, releasing of fund and sending back the file to the Administrative Department after approval from Finance Department. It causes delay in utilization of fund for the development and social welfare projects of the State.
To overcome these difficulties, the Finance Department, for some time past, was considering improving the present procedure of confirmation of credit of funds received from Government of India under Central Assistances to State Plan Schemes and release of such funds for speedy implementation of developmental projects by the Administrative Departments.
Now, after careful consideration of the matter, the Governor has been pleased to introduce the “Online System for Credit Confirmation-cum-Release of Funds” as an e-Governance activity with the object of expeditious release of fund under different Central flagship programmes.
The guidelines of the new online system are prescribed below:
- A system generated User Id & Password for the Departmental Administrator of this system shall be sent through SMS to the Additional Chief Secretary/Principal Secretary/Secretary of each Administrative Department. The Administrator can create new user credentials for other officials of the Department who may be entrusted with the responsibility of handling this online software.
- The Administrative Department shall open the Finance Department Portal http://www.wbfin.nic.in and click on “Online Credit Confirmation-cum-Release of Funds” link. After first time log-in, the passwords are needed to be changed mandatorily.
- For Credit Confirmation of Central Assistances to State Plan Schemes and Release of Funds, the Departmental Users shall enter the details of Sanction Order of GOI (Ministry/ Department Name, Scheme Name, G.O. No. & Date, Sanction Amount etc.) and upload the scanned copy of the relevant G.Os. While preparing the requests for release, the Department shall select the relevant Heads of Accounts related to Central Share, State Share and input the amount required to be released under each head of account. Administrative Department File Number shall also be mentioned in the appropriate field. Administrative Department shall take a printout of the system generated release request proposal for keeping record at their end.
- The Finance Department shall log-in to system to view the request for Credit confirmation of Gol Fund and proposals received from Administrative Departments for release of fund under State and Central Share. A Buff Sheet shall be generated from the system against each request of the Administrative Department. Finance Department shall take the printout of the said Buff Sheet and place it in the relevant file for processing the proposal. After confirmation of credit in respect of the G.O. against which release is sought for by the Department. After receipt of necessary approvals from the competent authorities of the Finance Department, system generated release order mentioning the F.D. Gr. N U.O. No. & Date against the request shall be uploaded in the system for making it available online to the Administrative Department.
- Under new system the Administrative Department shall not be required to send Files to Finance Department for the purpose of credit confirmation in respect of CSS schemes and release of Central and State Shares. The Credit Confirmation and release of State Share including Central Assistances will be done on-line. This system is expected to expedite the release of Central and State Fund and help in better utilization of funds.
- The Loans & Grants received for adjustment of payment made under Direct Procedure of EAP [Externally Aided Project] and the Grants received under BRGF (Special) shall not come under the new system.
- The Central Assistance received prior to the Financial Year 2010-11 shall not be covered under this system.
- This Order shall take effect from 15.09.2014.
Sd/- H. K. Dwivedi
Principal Secretary to the
Government of West Bengal
No. 666-FB dated 02.09.2014, Source