FM Nirmala Sitharaman to launch single nodal agency dashboard today

• Integrity Education, Delhi
• 07, Jun 2022

Finance Minister Nirmala Sitharaman will launch Single Nodal Agency Dashboard today during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav of Ministry of Finance in New Delhi today. The Ministry of Finance and Ministry of Corporate Affairs’ Iconic Week celebrations were launched by Prime Minister Narendra Modi yesterday.

The Single Nodal Agency Dashboard forms part of a major public financial management reform that was initiated in 2021 with regards to the manner in which funds for Centrally Sponsored Schemes are released, disbursed and monitored. This revised procedure, now referred to as the SNA model, requires each State to identify and designate a Single Nodal Agency for every scheme. All funds for that State in a particular scheme will be credited in this bank account, and all expenses will be made by all other Implementing Agencies involved from this account.

The SNA model ensures that allocation of funds to States for the Centrally Sponsored Sschemes are made in a timely manner and after meeting various stipulations. Effective implementation of this Model has brought about greater efficiency in Centrally Sponsored Schemes fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States. All of this contributes to better Cash Management of the Government

Source: News on Air