The review is being done for the fiscal 2013-14 for the ‘Medium Term Expenditure Framework’ soon
press trust of india
NEW DELHI, 25 JUNE: The Finance Ministry will next month review the financial and operational performance of about major 70 schemes, like the mid-day meal, bank recapitalisation and rural employment guarantee scheme, and has sought expenditure details from the ministries concerned and departments.
“To decide about the sectoral projections, it has been decided that major programmes of the government will be reviewed… Meetings under the Chairmanship of the Finance Secretary will be held in July 2013…,” the Ministry said in a circular.
The review is being done for the fiscal 2013-14 as the government would be tabling the ‘Medium Term Expenditure Framework’ (MTEF) statement in Parliament in the forthcoming Monsoon Session.
The MTEF statement to be laid will be consistent with the medium term fiscal policy framework laid in the Budget session, the circular added.
MTEF will lay down the expenditure commitments for various sectors over a three-year rolling framework.
Some of the other major schemes which are to be reviewed, include the Rashtriya Lrishi Vikas Yojana, equity infusion in Air India, Haj subsidy, e-governance projects, modernisation of State police forces and Sarva Shiksha Abhiyan.
The circular said that outlays for major programmes are one of the key determinants in the medium-term expenditure projections of the Government.
Normally, it said, major programmes are designed and implemented to achieve a major public policy objective and any change in the scope or implementation modalities of the programme can have major impact on public finances.
“It is, therefore, essential that any medium term view of expenditure commitment of the Government factors in the expected changes in the programme implementation or new expenditure commitments arising out of fresh programmes,” it said.
Through the Finance Act 2012-13, amendments were made to the Fiscal Responsibility and Budget Management Act 2003 and it was decided that the Central Government would lay the MTEF statement in Parliament in the Session immediately, following the Session of Parliament.