Online System for Credit Confirmation and Release of Funds
Published in Finance. Tags: Online Service.
Government of West Bengal
No. 660-F.B. Dated: 08th August, 2017.
Sub: Online System for Credit Confirmation and Release of Funds.
At present different Departments are sending files through online as well as offline 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. Through offline system 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, considered and implemented the introduction of “Online System for Credit Confirmation-cum-Release of Funds” with effect from 15.09.2014 in terms of 666-FB dated 02.09.2014 for improving the earlier 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 implement the “Online System for Credit Confirmation-cum-Release of Funds” as a mandatory e-Governance activity with the object of expeditious release of fund under different Central Assisted programmes along with proportionate State Share.
The guidelines of the mandatory online system are prescribed below:
1. The Administrative Department shall open the Finance Department Portal http://www.wbfin.nic.in and click on “On line Credit Confirmation-cum-Release of Funds” link as it was done earlier.
2. The Credit Confirmation-cum-Release of Funds has been made mandatory through the “Online System for Credit Confirmation-cum-Release of Funds” for the Central Assistance which are credited to the State Exchequre in the current financial year and the Central Assistance received not before the financial year 2010-11 but not yet released fully by the Finance Department. The State Share will be mandatorily released along with the allotment of Central Share.
3. In the following cases the Administrative Department shall be required to send manual Files to Finance Department for the purpose of credit confirmation in respect of CSS schemes for release of Central Share and as well as Matching State Shares.
a) The Loans & Grants received for adjustment of payment made under Direct Procedure of EAP [Externally Aided Project].
b) For the Central Assistances which are released earlier financial year but the Administrative Department could not utilise the entire amount of the Central Share within the last date of the previous financial year.
c) For the release of Advance Central Share which are yet to be received or receivable after release of fund by the Finance Department or completion of the project or submission of the utilization certificate to the Govt. of India.
d) For the Central Assistance received prior to the Financial Year 2010-2011.
e) Matching State Share of Central Shares of Schemes which are not routed through the State Treasuries.
4. Under this system the Administrative Department shall not be required to send Files to Finance Department for the purpose of credit confirmation in respect of Central Assisted schemes and release of Central and State Shares. The Credit Confirmation and release of State Share including Central Assistances will be done mandatorily on-line. This system is expected to expedite the release of Central Fund as well as matching State share and help in better utilization of funds.
5. This Order shall take effect from 16.08.2017.
Sd/- H.K. Dwivedi
Principal Secretary to the
Government of West Bengal
No. 660-FB dated 08.08.2017, Source