Financial Management Index for Rural Development Programmes

Financial Management Index for Rural Development

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

Link:

https://rural.nic.in/#:~:text=AS%26FA%2C%20DoRD%2C%20Shri%20Sanjeev%20Kumar,Ji%20on%2024th%20July%2C%202020.

https://www.pib.nic.in/PressReleseDetailm.aspx?PRID=1641167