Nirmala Sitharaman to launch single nodal agency dashboard on June 7
Finance Minister Nirmala Sitharaman will launch the Single Nodal Agency (SNA) dashboard on Tuesday that will provide a platform for ministries/departments to monitor transfer of funds to states and their utilization.
The Public Financial Management System (PFMS) has developed the SNA Dashboard, in order to give the stakeholders of the SNA model the necessary feedback and monitoring tools in the operation of the schemes, the Finance Ministry said in a statement.
“The dashboard displays the releases made by the Ministries to various states, the releases made by the state treasuries into the SNA accounts, the expenditures reported by the agencies, the interest paid by the banks to the SNA accounts, etc. in intelligible, informative and attractive graphics ” ,
“The SNA Dashboard of PFMS will provide a platform to Ministries/Departments to facilitate transfer of funds to States, its utilization by implementing agencies and to assist in cash management of the Government,” the ministry tweeted.
The SNA Dashboard is part of the Public Financial Management Reform that was launched in 2021 with regard to the way funds are released, distributed and monitored for Centrally Sponsored Schemes (CSS).
“This revised process, now referred to as the SNA model, requires each state to identify and designate an SNA for each plan. All funds for that state in a particular plan will be credited to this bank account, and all expenses will be incurred by all other implementing agencies linked to this account,” the ministry said in a statement.
Therefore, the SNA model ensures that the allocation of funds to the states for CSS is done in a time bound manner and after fulfilling various conditions.
“Effective implementation of this model has resulted in greater efficiency in utilization of CSS funds, tracking of funds, practicality and release of funds to the States; Ultimately all are contributing to better cash management of the government.”
The dashboard is being launched by the Ministry of Finance as part of the prestigious week celebrations of Azadi Ka Amrit Mahotsav.