new Delhi. The authorities's financial state of affairs has deteriorated considerably as a result of lockdown applied after the Corona epidemic. In such a state of affairs, the federal government has determined that it’ll not launch any new scheme within the present monetary yr. The Finance Ministry has made it clear that it won’t be able to think about any such utility of any ministry. However, these restrictions are on these schemes that are within the authorised or rated class. This order can even apply to these schemes for which the Department of Expenditure of the Ministry of Finance has given in-principle approval.
The order issued by the Department of Expenditure of the Ministry of Finance said, 'In the wake of the Corona epidemic, there may be unprecedented demand on public monetary sources and there’s a want to make use of sources judiciously with altering priorities. <! –
The order said, 'The introduction of latest schemes already authorised or authorised within the monetary yr 2020-21, together with the Standing Finance Committee proposals (plans above Rs 500 crore), will stay suspended for 1 yr.
However, there will likely be no restriction on self-reliant India and Prime Minister's poor welfare schemes. The order issued by the federal government clearly states that varied ministries mustn’t begin new schemes. Focus on the schemes introduced underneath Pradhan Mantri Garib Kalyan Yojana or Atma Dependent Bharat Abhiyan. The authorities had not too long ago introduced a reduction package deal of Rs 20 lakh crore towards coronavirus. This package deal is about 10 p.c of the nation's GDP.
The Finance Ministry has taken this essential determination as a result of Corona disaster, as a result of the federal government is getting much less income. The report out there with the Controller General of Accounts exhibits that income of Rs 27,548 crore was acquired throughout April 2020, which was 1.2 per cent of the funds estimate. While the federal government spent 3.07 lakh crore, which was 10 per cent of the funds estimate.
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