TaxTMI 
TaxTMI 
Enhanced Financial Powers to different Ministries
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....nhanced Financial Powers to different Ministries <br>News and Press Release<br>Dated:- 28-6-2016<br><BR>Government of India has decided to revise the financial limits for appraisal and approval of Non-Plan Schemes/Projects by competent authorities. As per the revised delegation, the Committee on Non-Plan Expenditure (CNE), which serves as an appraisal forum for all non-plan proposals of Central Go....
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....vernment Ministries/Departments, will now appraise proposals involving expenditure of ₹ 300 crore and above. The earlier limit for this was ₹ 75 crore. Non-plan Schemes/projects of less than ₹ 300 crore can now be appraised by Ministry / Standing Finance Committee of the Ministry concerned. The financial power of the Minister-in-charge of the administrative Ministry for approval....
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.... of the Non-Plan schemes/projects has also been enhanced and the schemes/project costing less than ₹ 500 crore can now be approved at his/her level. Earlier, the Minister-in-charge could approve projects costing less than ₹ 150 crore. Finance Minister shall be competent financial authority for approving scheme/projects having financial implications of ₹ 500 crore and above and up....
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....to ₹ 1000 crore. Proposal having financial limits of ₹ 1000 crore and above shall require approval of the Cabinet/Cabinet Committee on Economic Affairs. Concurrently, financial limits regarding appraisal and approval of increase in cost estimates have also been revised. Increase in cost upto 20% of the firmed up cost estimates can now be appraised by the Financial Adviser and approved....
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.... by Secretary of the administrative Department, if the absolute cost escalation is upto ₹ 75 crore, and by the Administrative Minister-in-charge if absolute cost escalation is above this. With this enhancement of financial powers, the financial limits for appraisal and approval of plan and non-plan schemes/projects of Central Government Ministries and Departments have been brought almost at....
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.... par. This is expected to expedite appraisal and approval process in the Central Government Ministries/Departments.<BR> News - Press release - PIB....