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Finance Ministry to assess Mudra Yojana, Namami Gange prior to Budget

The government launches several schemes for the welfare of people -- depending on the status and performance of the existing schemes, in the Budget, some new schemes are added or some modifications are carried out.

Finance Ministry
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Published : May 27, 2019, 4:33 PM IST

Updated : May 27, 2019, 5:36 PM IST

New Delhi: The Finance Ministry has asked all ministries to report evaluation of Central Sector schemes under them in an effort to decide on funds allocations and requirement of improvements in them prior to the Budget.

The Department of Expenditure has sought details on those schemes on budgetary allocation and expenditure pattern in the past five years, coverage of beneficiaries, implementation mechanism, asset, service creation and its maintenance.

The government launches several schemes for the welfare of people -- depending on the status and performance of the existing schemes, in the Budget, some new schemes are added or some modifications are carried out.

In a communication to financial advisors of all ministries, a DoE office memorandum said: "The gaps in achievements of outcomes, key bottlenecks and challenges, vision for the future and recommendations for the scheme with reasons" are to be part of the submission.

Read more:Finance Ministry starts groundwork for fresh bank consolidation

"Outcome indicators as proposed prepared by NITI Aayog may be considered," it said.

The Department seeks to know the summary of past evaluations including recommendations made accepted or not accepted.

"It is essential to highlight the importance of recommendations made for the scheme. The evaluation agency may provide recommendation for the scheme in any of the categories -- Continue in existing form; Continue with some Modifications (suggest modifications); Scale up the scheme (Financial/Physical/both); Scale down the scheme (Financial/ Physical/ both); Close; and Merge with another scheme as sub-scheme/component.

Central Sector Schemes are the schemes that are entirely and directly funded and executed by the central government. The schemes are formulated by the Centre, based on subjects from the Union List.

Central Sector Schemes include Bharatnet, Namami Gange-National Ganga Plan, LPG connection to poor households, Crop Insurance Scheme, recapitalisation of public sector banks, family welfare schemes, labour welfare schemes, National Means-cum-Merit Scholarship Scheme, National Scheme for Incentive to Girl Child for Secondary Education, interest subsidy for short term credit to farmers, MRTS and metro projects, Pradhan Mantri Mudra Yojana and other credit guarantee funds.

New Delhi: The Finance Ministry has asked all ministries to report evaluation of Central Sector schemes under them in an effort to decide on funds allocations and requirement of improvements in them prior to the Budget.

The Department of Expenditure has sought details on those schemes on budgetary allocation and expenditure pattern in the past five years, coverage of beneficiaries, implementation mechanism, asset, service creation and its maintenance.

The government launches several schemes for the welfare of people -- depending on the status and performance of the existing schemes, in the Budget, some new schemes are added or some modifications are carried out.

In a communication to financial advisors of all ministries, a DoE office memorandum said: "The gaps in achievements of outcomes, key bottlenecks and challenges, vision for the future and recommendations for the scheme with reasons" are to be part of the submission.

Read more:Finance Ministry starts groundwork for fresh bank consolidation

"Outcome indicators as proposed prepared by NITI Aayog may be considered," it said.

The Department seeks to know the summary of past evaluations including recommendations made accepted or not accepted.

"It is essential to highlight the importance of recommendations made for the scheme. The evaluation agency may provide recommendation for the scheme in any of the categories -- Continue in existing form; Continue with some Modifications (suggest modifications); Scale up the scheme (Financial/Physical/both); Scale down the scheme (Financial/ Physical/ both); Close; and Merge with another scheme as sub-scheme/component.

Central Sector Schemes are the schemes that are entirely and directly funded and executed by the central government. The schemes are formulated by the Centre, based on subjects from the Union List.

Central Sector Schemes include Bharatnet, Namami Gange-National Ganga Plan, LPG connection to poor households, Crop Insurance Scheme, recapitalisation of public sector banks, family welfare schemes, labour welfare schemes, National Means-cum-Merit Scholarship Scheme, National Scheme for Incentive to Girl Child for Secondary Education, interest subsidy for short term credit to farmers, MRTS and metro projects, Pradhan Mantri Mudra Yojana and other credit guarantee funds.

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Sensex, Nifty hit record highs as rally continues on Modi's return
          Mumbai, May 27 (PTI) Domestic equity benchmarks BSE Sensex and NSE Nifty Monday closed at another record highs as investors continued to cheer the decisive mandate for the Narendra Modi's BJP in the national election.
          After rallying nearly 400 points, the 30-share index ended 248.57 points, or 0.63 per cent, higher at 39,683.29 -- its all-time closing high. The gauge hit an intra-day high of 39,821.94 and a low of 39,353.16.
          Likewise, the broader NSE Nifty jumped 80.65 points, or 0.68 per cent, to 11,924.75 -- a closing peak for the index. During the day, the bourse hit a high of 11,957.15 and a low of 11,812.40.
          Tata Steel was the biggest gainer in the Sensex pack, rallying 5.78 per cent; followed by Yes Bank, NTPC, L&T, Axis Bank, SBI, M&M, HDFC twins, Vedanta, HUL, PowerGrid, ICICI Bank, Kotak Bank, HCL, TCS and ITC, gaining up to 3.79 per cent.
          On the other hand, IndusInd Bank, RIL, Asian Paints, Bharti Airtel, ONGC, Maruti, Bajaj Auto, Tata Motors, Bajaj Finance, Coal India, Hero MotoCorp, Sun Pharma and Infosys ended in the red, shedding up to 2.37 per cent.
          The broader BSE midcap and smallcap indices outperformed benchmarks, ending up to 1.77 per cent higher.
          According to experts, the market is witnessing a board-based rally expecting better outlook for the economy in the next one to two quarters, experts said.
          Domestic and foreign investors have been euphoric ever since Modi-led NDA registered a thumping victory in the Lok Sabha polls.
          Foreign institutional investors bought equity worth Rs 2,026.33 crore on Friday, while domestic institutional investors sold shares to the tune of Rs 195.35 crore, provisional data available with stock exchanges showed.
          Meanwhile, the Indian rupee depreciated marginally to 69.59 against the US dollar.
          Brent crude, the global benchmark, was trading at 67.50 per barrel, higher by 0.04 per cent.
          Globally, bourses in Asia ended on a mixed note, while those in Europe were trading in the green in their respective early deals. PTI
ANS
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Last Updated : May 27, 2019, 5:36 PM IST
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