Finance Dept restricts fund transaction from state account
Source: Hueiyen News Service
Imphal, July 23 2012:
Although Finance Department has imposed restriction on fund transaction from the State's account, transactions on important matters, however, would be relaxed.
According to official source from the Finance Department, the move was taken to keep intact the required balance in the State's account.
An order has been issued by the Finance department in this regard.
The order, however, allows transaction of money on certain important matters like payment of employees' salaries, arrears, GPF, Medical Re-imbursement and emergency matters, etc.
But those matters where the Utilisation Certificate needs to be sent to the Centre are excluded.
The source further revealed after the State Assembly passed the annual budget plan for the financial year 2012-13, processes are underway for proper utilization of the plan budget.
By the end of August, there is likelihood for proper utilization of the plan budget, and after August, restriction on transaction of funds from the State account may be relaxed altogether.