Tamil Nadu Innovation Initiatives (TANII), State Innovation Fund, Release of funds for 2017-18
The Planning, Development and Special Initiatives (SP.1) Department issued G.O.Ms.No.57, dated 2 August 2017, sanctioning the transfer of Rs.150 crores as the Government contribution to the State Innovation Fund for 2017-18. The document deals with government funding and accounting arrangements for innovative schemes, and does not change land ownership, land use, registration or property rights.
Purpose
G.O.Ms.No.57 of the Planning, Development and Special Initiatives (SP.1) Department, dated 2 August 2017, directs the transfer of Rs.150 crores to the State Innovation Fund for 2017-18. The amount had been provided in the Budget Estimate for that year and represents the Government contribution to the fund.
The sanction supports innovative schemes in government agencies. It is an administrative and financial direction rather than a land or property regulation.
Background to the fund
The State Innovation Fund was established in the State Planning Commission by restructuring the existing Part-II Schemes from the financial year 2015-16. Its purpose is to encourage a culture of innovation in government agencies.
Earlier government orders referred to in G.O.Ms.No.57 provided for:
- An initial fund corpus of Rs.150 crores.
- Guidelines for identifying and implementing innovative schemes.
- Operation of the fund as a separate non-lapsable fund within the Public Account.
- Carrying forward any unutilised balance for innovative schemes in later years.
- Accounting procedures for transactions under the fund.
Key financial directions
G.O.Ms.No.57 gives the following directions for the 2017-18 contribution:
- Rs.150 crores must be transferred to the State Innovation Fund.
- The expenditure must be debited to the specified account under Other General Economic Services and inter-account transfers.
- The same amount must be credited to the State Innovation Fund under the specified Development and Welfare Funds account.
- The Member Secretary of the State Planning Commission must prepare an adjustment bill and submit it to the Pay and Accounts Officer (East), Chennai.
- The Accountant General (Accounts and Entitlements), Chennai, must make the necessary transfer entries for 2017-18 and provide a certificate confirming the transfer.
The Finance Department concurred with the sanction before it was issued.
Who is affected
G.O.Ms.No.57 directly concerns the State Planning Commission, the Pay and Accounts Officer (East), the Accountant General (Accounts and Entitlements), and the government departments handling the relevant accounts.
Property buyers, landowners, developers and registration professionals are not given any duties or rights under the document. It contains no provision changing title, patta, land classification, planning permission, registration or land use.
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Common questions
Does G.O.Ms.No.57 affect my land title or patta?
No. G.O.Ms.No.57 concerns the transfer of government money to the State Innovation Fund and contains no provision about land title or patta.
How much money was sanctioned for the State Innovation Fund?
The Planning, Development and Special Initiatives (SP.1) Department sanctioned the transfer of Rs.150 crores as the Government contribution for 2017-18.
What happens to money left unused in the State Innovation Fund?
The fund is described as non-lapsable. Any unutilised balance is carried forward and remains available for sanctioning innovative schemes in a subsequent year.
Who must complete the fund transfer?
The Member Secretary of the State Planning Commission must prepare an adjustment bill for the Pay and Accounts Officer (East), Chennai. The Accountant General (Accounts and Entitlements), Chennai, must make the transfer entries and provide a certificate.
