New Delhi (NVI): Defence Minister Rajnath Singh today said performance standards are being set for officers and mechanisms developed for greater prudence in financial management under the government’s vision of ‘minimum government and maximum governance’.
Addressing the Integrated Financial Advisors (IFA) Workshop here, Singh said the functioning of the government is being made effective and efficient under ‘minimum government maximum governance’ .
Performance standards are being established for government officials and mechanisms of prudence and accountability are being adopted in financial management, he said.
“Integrated Finance is the backbone of any ministry, desired objectives can only be achieved when a ministry and department is able to manage within its budgetary resources without compromising on operational needs,” the Defence Minister said.
He commended the Finance Division in the Ministry of Defence (MoD) and Controller General of Defence Accounts (CGDA) for meeting the needs of the three Services and other allied organisations, like Ordnance Factories, Indian Coast Guard, Border Roads Organisation and DRDO with harmony and synergy and displaying the willingness and readiness to meet new challenges.
Singh highlighted that in the last three years, MoD has been able to fully utilise its allocations, ending the trend of non-utilisation of funds due to substantial delegation of financial powers.
“Financial powers have been delegated for capital and revenue procurement so that Armed Forces are able to make their own procurement of up to Rs 300-500 crore,” he said.
“Emergency powers have also been given to the Armed Forces in view of their emergent operational needs. This has led to enhanced operational efficiency,” he added.
Singh stressed that workshops like these not only play an important role in the evaluation of the government’s policies and practices but also create a path for future policies.
“Such events instill confidence in how responsible and committed we are to our financial matters. These responsibilities and commitments help us to make our administration accountable and the country financially independent,” he added.
