Nirmala Sitharaman launched single nodal agency dashboard
Tags: International News
Finance Minister Nirmala Sitharaman launched the Single Nodal Agency Dashboard on 7th June during the iconic week celebrations of Azadi Ka Amrit Mahotsav in New Delhi.
About Single Nodal Agency (SNA) dashboard
This Single Nodal Agency (SNA) dashboard will provide a platform to the Ministries/Departments to monitor the transfer of funds to the States and their utilisation.
SNA Dashboard is developed by the Public Financial Management System (PFMS).
This is a 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 process, now referred to as the SNA model, requires each state to identify and designate one SNA for each plan.
All funds for that state in a particular scheme will be deposited in this bank account, and all expenses will be borne by all other implementing agencies linked to this account.
The SNA model ensures that funds for centrally sponsored schemes are allocated to the states in a time bound manner and after fulfilling various conditions.
Significance of SNA Dashboard
It will bring greater efficiency in fund utilisation, tracking of funds, viability and timely release of funds to the states of Centrally Sponsored Schemes.
This will contribute to better cash management of the government.
Please Rate this article, so that we can improve the quality for you -