Sanction and Release of RIDF Fund by the Administrative Dte
Finance, Release of Fund , RIDF
Government of West Bengal
Finance Department
Audit Branch
No. 32-F(Y) Dated: 02.01.2014
MEMORANDUM
Finance Department (FD) through its memo no. 964(27)-FB/O/4P-25/12 dt. 27.8.12, delegated to the Departmental authority of the Administrative Departments the power of submission of loan drawal application and Utilisation Certificate directly to NABARD without routing them through FD. Now, with the introduction of Financial Advisor system in all the Administrative Departments of the State Government, it is felt that there is a scope of further delegation of power with regard to release of fund under RIDF.
Therefore, the undersigned is directed by order of the Governor to delegate the following financial power to the Additional Chief Secretary/ Principal Secretary/ Secretary of the Administrative Departments and prescribe below the procedure to be observed for sanction and release of RIDF fund by the Administrative Departments.
1. The Additional Chief Secretary/ Principal Secretary/ Secretary of the administrative department can approve release of RIDF fund after processing of the same by the departmental Financial Advisor (FA);
2. Financial Advisor should apply due diligence in dealing with release of the RIDF project fund keeping in view the Plan fund release orders issued by Finance Department from time to time. An indicative checklist is given below for the Financial Advisors/ Departmental secretaries:-
(i) DPR should be prepared incorporating all the information of the project including its financials and project estimate with BOQ;
(ii) Format – “P” should be duly filled up and signed by the appropriate authority of the Administrative Department;
(iii) Open tender should be invited for the works as per the provisions of Rule 47 of WBFR as amended vide FD notification no. 5400-F(Y) dt. 25.6.12 for selection of the contractor;
(iv) Tendered value should not exceed the amount sanctioned under RIDF by NABARD;
(v) RIDF fund should be released within the sanctioned fund and releases authorised by FD under the State Plan;
(vi) Copies of work orders should be examined at the time of release of the start-up funds;
(vii) In case tender needs to be invited for a value more than that sanctioned by NABARD for the RIDF project, prior concurrence of Finance Department will be necessary;
3. Advance cannot be drawn out of the state budget without concurrence of the FD;
4. Fund can be sanctioned for RIDF projects only after finalisation of land for the project;
5. The Departmental Secretaries of Administrative Departments will release fund under RIDF within the limits fixed by the Finance Department under State Plan.
6. The existing procedure of sanction of the RIDF projects will continue.
Sd/- H.K. Dwivedi
Principal Secretary to the
Government of West Bengal