Question:Union Minister of Rural Development has released the “Financial Management Index for Rural Development Programmes”.Which of the following are parameters of index:
(1)Preparation of annual plan and projecting the requirement of funds for the financial year.
(2)Expeditious release of State’s share;
(3)Timely utilization of the funds and submission of the Utilization Certificates.
(4)Internal Audit .
(5)Social Audit.
(a) 1,3 and 5
(b) 2,3,4 and 5
(c) 1,2 and 3
(d) 1,2,3,4 and 5
Answer:(d)
- Context:
- The Union Minister of Rural Development has released the “Financial Management Index for Rural Development Programmes”.
- Aim:
- To rank states on efficient management of financial resources allocated for implementing rural development programmes.
- Parameters:
- The index will rank the States on the basis of following parameters:
- Preparation of annual plan and projecting the requirement of funds for the financial year;
- Expeditious release of State’s share;
- Timely utilization of the funds and submission of the Utilization Certificates;
- Optimum implementation of Public Financial Management System (PFMS) & Direct Benefit Transfer(DBT);
- Internal Audit and
- Social Audit.
- Significance:
- The performance of the States in the Index would promote the spirit of competitive, cooperative federalism amongst States.
By:Arpit Mishara
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