The Delhi government has asked principal secretaries and secretaries to take the views of "integrated financial advisers" before executing proposals of their departments.
The finance department has issued an office memorandum to all head of department's asking them to adopt the practice of engaging integrated financial advisers (IFAs).
It has asked department heads to take the views of the advisers in budget formulation, expenditure management, procurement, contract, screening of proposals among others.
The move came after it was observed that the proposals being sent to the finance department do not contain views of IFAs according to relevant rules and provisions.
"Roles and responsibilities of IFAs have been clearly spelt out in various communications of both the state government and the government of India, as well as in the delegation of Financial Power Rules, 1978," Principal Secretary (Finance) Renu Sharma said in the office memorandum.
In the memorandum, Sharma said, "All administrative secretaries are hereby requested to involve the integrated financial advisers in all proposals of the department, which have clear economic and financial implications."
On screening of proposals, she said IFAs would be responsible for examining all proposals before referring them to the finance department with their specific recommendation on the proposals as per relevant rules.
"IFAs would continue to be responsible for expenditure management. They should be closely associated with the formulation of schemes and important expenditure proposals from the initial stage," the principal secretary said.
Regarding budget formulation, she said IFAs would continue to be responsible for budget formulation and they may ensure that the schedule for preparation of budget is adhered to and the budget is drawn up according to the instructions issued from time to time.
Disclaimer: No Business Standard Journalist was involved in creation of this content
