Finance Ministry eases expenditure norms to spur spending in last quarter
New Delhi Jan 20 PTI In a bid to spur capital expenditure the Finance Ministry has relaxed spending norms for the fourth quarter with a view to boost economic activities slowed down due to the impact of COVID-19 As per the existing guidelines more than 33 per cent and 15 per cent of the budget estimates BE shall be permissible to be spent by ministries and departments in the last quarter and last month of the financial year respectively It has now been decided to relax the upper limit of 33 per cent of the BE as applicable for the last quarter of the current financial year as a one-time measure the Department of Economic Affairs under the Finance Ministry said in an office memorandum This is subject to the condition that the ceiling of revised estimate RE for 2021-22 is not exceeded the memorandum dated January 19 2021 said For the items of capital expenditure the ceiling of 15 per cent of the BE in the last month for this fiscal is also relaxed provided the capital or overall expenditure is within the RE 2021-22 ceiling it said In view of relaxation ministries and departments have been asked to carry out consequential modifications in their quarterly expenditure plan QEPmonthly expenditure plan MEP The relaxation is applicable with immediate effect for the current financial year or until further order PTI DP RDK RDK
New Delhi Jan 20 PTI In a bid to spur capital expenditure the Finance Ministry has relaxed spending norms for the fourth quarter with a view to boost economic activities slowed down due to the impact of COVID-19 As per the existing guidelines more than 33 per cent and 15 per cent of the budget estimates BE shall be permissible to be spent by ministries and departments in the last quarter and last month of the financial year respectively It has now been decided to relax the upper limit of 33 per cent of the BE as applicable for the last quarter of the current financial year as a one-time measure the Department of Economic Affairs under the Finance Ministry said in an office memorandum This is subject to the condition that the ceiling of revised estimate RE for 2021-22 is not exceeded the memorandum dated January 19 2021 said For the items of capital expenditure the ceiling of 15 per cent of the BE in the last month for this fiscal is also relaxed provided the capital or overall expenditure is within the RE 2021-22 ceiling it said In view of relaxation ministries and departments have been asked to carry out consequential modifications in their quarterly expenditure plan QEPmonthly expenditure plan MEP The relaxation is applicable with immediate effect for the current financial year or until further order PTI DP RDK RDK
