Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman launched the Single Nodal Agency (SNA) Dashboard of PFMS (Public Financial Management System) on June 7, 2022.
- The Training Modules of the Department of Expenditure were also launched as part of the Mission Karmayogi.
- In his address at the launch of SNA Dashboard, the Finance Secretary said that the complete visibility of money reaching the end beneficiary is the primary achievement of SNA.
- Dr. Somanathan also added that float of funds could be reduced and thus, interest costs are saved, and these steps are helpful in containing the fiscal deficit in challenging times like now.
- The Finance Secretary underlined that another feature of SNA is that it has a centralised core and a decentralised periphery giving freedom to the States and agencies in implementation of schemes.
About Single Nodal Agency (SNA) Dashboard
- The SNA Dashboard is a major reform 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 are now credited in this bank account, and all expenses by all other Implementing Agencies involved are effected 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.
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