Depts told to prepare budget estimates
Source: The Sangai Express
Imphal, October 28 2018:
The State Finance Department has instructed all the Departments concerned to prepare revised estimates for the year 2018-19 as well as the budget estimates for the year 2019-20 at the earliest.
On the other hand, the non- plan expenditure and plan expenditure will be known as committed expenditure and developmental expenditure respectively from this year.
According to an official source, the funds for the developmental works and projects taken up by the Government during a year are sanctioned under the plan expenditure while funds for employees' salary, pensioners' benefit and Departmental maintenance are sanctioned under non-plan expenditure.
However, starting from this year, the non-plan and plan expenditure will be known as committed and developmental expenditures respectively, the source conveyed and added that the Department of Economic Affairs, Ministry of Finance, has even sent a notice to the State Government regarding the change.
The source continued that the Finance Department will try to produce the budget estimate of the year 2019-20, by collaborating with the Administrative Departments and HoDs concerned as per the guidelines mentioned in the Ministry's directives.
Various loans taken by the Administrative Departments from various agencies which are yet to be paid, will be reflected in the budget estimate, the source explained and added that the said loan, however, will not be included in the revised rate.
The source continued that while submitting the developmental expenditure of the year 2018-19, the Departments have to base the calculation on the revised estimate of the Planning Department and the tentative sectoral allocation of 2019-20.The source explained that without the permission of the Planning Department, a Department cannot deviate from the estimates present in its earmarked sector.
Pointing out that the Departments have to submit the exact estimates in accordance with its earmarked sector, the source informed that the Departments have also been instructed to submit their demand for grants proposals at the earliest.
The demand for grants proposal will be included in the budget speech, the source added.