Finance Ministry approves proposals worth Rs 2.11 lakh crore The Finance Ministry has approved 29 investment proposals worth Rs 2.11 lakh crore. Also, Expenditure Secretary headed Public Investment Board (PIB) has passed 12 proposals involving expenditure of Rs 28673 crore. Ministry of Power had proposed expenditure of Rs 8612 crore, which also got approved by the Finance Ministry.
Proposals of Ministry of External Affairs; and Ministry of Road, Transport and Highway involving investment of Rs 7291 crore and Rs 6461 crore, respectively, also got approved.
Till November month of the year 2016, Expenditure Secretary headed PIB had recommended 29 investment proposals costing Rs 211049 crore.
Web based online software application, Public Financial Management System (PFMS) has been implemented fully by the central government for all plan and non-plan schemes' release.
The main objective of PFMS is to establish an efficient fund flow system as well as a payment-cum-accounting network.
During the year, the Controller General of Accounts (CGA) has developed a risk based control framework in the form of a generic Internal Audit Manual to guide the internal audit engagements.
The manual not only explains the complexities associated with the internal audit functions, but also facilitates the entire process by providing audit process' templates and guidelines.
Talking about other achievements, Department of Expenditure said that the Centralized Public Grievances Redressal and Monitoring System (CPGRAMS) has been effectively implemented, and so far a total number of 4,475 out of 4,508 grievances have been successfully redressed/disposed.
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