Asking profit-making PSUs to pay interim dividends, the finance ministry has said all ministries must ensure that their spendings do not exceed 33% of the budgeted amount.The finance ministry has taken up the issue of interim dividend with all other ministries, official sources said.It has communicated to all departments that very few PSUs have paid interim dividends till December 2004, and the shortfall of normal dividend for 2003-04 was to the tune of Rs 5,000 crore from the budgeted figure, they said.The interim dividend has been sought also in the background of robust profits made by some PSUs.In a meeting with financial advisors of all ministries last month, finance minister P Chidambaram had also asked ministries' officials not to spend more than 33% of the budgeted amount allocated to them. No ministry will be given any exemption for deviating from this norm.While ensuring tighter expenditure control to adhere to the Fiscal Responsibility and Budget Management Act, the government also wants to ensure "unspent balances" in various ministries and departments do not exceed 15% of the budgeted amount, the sources said.Chidambaram also had made it clear that departments should not lock up productive resources as unspent balances. The level of unspent balances has surged to Rs 30,000 crore till December, which amounts to 35% of the budgeted amount for various departments.
