Finance Ministry allows govt departments to carry over quarterly spending

The FinMin's missive to various departments comes at a time when the Centre's fiscal balance for FY23 is under immense pressure

In a bid to streamline expenditure amidst pressure on the Centre's fiscal math, the Finance Ministry has allowed government departments to carry over their unspent amounts to subsequent quarters.

“Ministries and departments are permitted to utilise the unspent balances from quarter one to quarter two for cash management purposes. Unspent balances from quarters two and three may be used in quarters three and four respectively after the approval of the Expenditure Secretary has been obtained,” the Department of Economic Affairs said in an office memorandum dated May 25.

The memorandum stated that bulk expenses of more than Rs 2,000 crore