Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to launch of Single Nodal Agency (SNA) Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav celebrations of Ministry of Finance

Smt. Sitharaman will also launch Training Modules of Department of Expenditure

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman to launch of Single Nodal Agency (SNA) Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav celebrations of Ministry of Finance, in New Delhi today,

The Ministry of Finance & Ministry of Corporate Affairs’ Iconic Week celebrations from 6th June to 12th June 2022 were launched by the Prime Minister, Shri Narendra Modi here today morning.

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman will be the Chief Guest and Finance Secretary, Dr. T.V. Somanathan, and the Controller General of Accounts, Smt. Sonali Singh will grace the occasion along with other dignitaries.

The event will be telecast live through NIC’s Webcast platform (https://webcast.gov.in/finmin/cga) and on the YouTube channel of Ministry of Finance (https://youtu.be/VT9p-1Hhhno).

The SNA 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 (CSS) are released, disbursed and monitored. This revised procedure, now referred to as the SNA model, requires each State to identify and designate a SNA 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, therefore, ensures that allocation of funds to States for the CSS are made in a timely manner and after meeting various stipulations. Effective implementation of this Model has brought about greater efficiency in CSS fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States; ultimately all contributing to better Cash Management of the Government.

In order to give the stakeholders of SNA model the necessary feedback and monitoring tools in the operation of the schemes, Public Financial Management System (PFMS) has developed the SNA Dashboard. The Dashboard depicts releases made to different States by Ministries, further releases made by State Treasuries to the SNA accounts, expenditure reported by the agencies, interest paid by banks to SNA accounts etc. in intelligible, informative and visually appealing graphics.

The programme will also have presentations on ‘Best Practices in Cash Management through SNA and Treasury Single Account (TSA)’. The presentations will be made by Joint Controller General of Accounts, State Government of Odisha and Canara Bank showcasing their experiences on the subject.

The Union Finance Minister will also launch Training Modules of the Department of Expenditure. With the aim to facilitate and build the capacity of the officials, two central training institutes namely Institute of Government Accounts and Finance (INGAF) and Arun Jaitley National Institute of Financial Management (AJNIFM) have developed the courses to be published on the iGOT Karmayogi portal, DoPT. INGAF has developed the training programme on FR SR- III (Leave Rules) to increase knowledge of learners towards various conditions of leave, process to apply and avail leaves due and admissible and their approval, describe special kinds of leaves etc. The course curated by AJNIFM caters to procurement of variety of goods and services, including execution of works. This would help officers posted in Integrated Finance Divisions (IFDs) of various Ministries/Departments in examining the proposals in light of GFRs and other instructions before concurrence is given by Financial Advisors. Learners shall be put to test in each module so that they can check themselves and may go back to the particular portion of the module for re-emphasizing the learning.

Single Nodal Agency model centralizes CSS fund flows and monitoring to improve timely allocation and cash management. The SNA model centralises CSS fund flows by requiring each State to designate a Single Nodal Agency whose bank account receives all scheme funds and from which implementing agencies make expenditures, aiming to ensure timely conditional allocations, improved tracking of releases and expenditures, and better cash management; PFMS has developed an SNA Dashboard to display central releases, treasury transfers, implementing agency spending and bank interest for stakeholder monitoring.