G.O.Ms.No.61, Tamil Nadu Innovation Initiatives, State Innovation Fund, Release of Funds for 2018-19
The Tamil Nadu Planning, Development and Special Initiatives (SP.1) Department issued G.O.Ms.No.61, dated 19 July 2018, sanctioning the transfer of Rs. 100 crore as the Government contribution to the State Innovation Fund for 2018-19. It is a government funding and accounting order and does not contain provisions governing land ownership, property transactions or land administration.
What the document does
The Tamil Nadu Planning, Development and Special Initiatives (SP.1) Department issued G.O.Ms.No.61, dated 19 July 2018, to transfer Rs. 100 crore as the Government contribution to the State Innovation Fund for 2018-19. The fund supports innovative schemes in government agencies under the Tamil Nadu Innovation Initiatives framework.
Key directions are:
- Rs. 100 crore is to be transferred to the State Innovation Fund.
- The expenditure is to be debited to the specified government account for transfers to the State Innovation Fund.
- The same amount is to be credited to the State Innovation Fund under the specified reserve fund account.
- The transfer has the concurrence of the Finance Department.
Background to the fund
G.O.Ms.No.61 records that the State Innovation Fund was established in the State Planning Commission by restructuring existing Part-II Schemes from the financial year 2015-16. Its purpose is to encourage a culture of innovation in government agencies.
The document also records that:
- The fund had an initial corpus of Rs. 150 crore.
- Guidelines had already been issued for identifying and implementing innovative schemes.
- The State Innovation Fund operates as a separate non-lapsable fund within the Public Account.
- Any unused balance is carried forward and remains available for innovative schemes in a later financial year.
- Accounting procedures for transactions under the fund had already been issued.
Who must act
G.O.Ms.No.61 directs the Member Secretary of the State Planning Commission to prepare an adjustment bill and present it to the Pay and Accounts Officer (East), Chennai, so that the amount can be credited to the State Innovation Fund Account.
The Accountant General (Accounts and Entitlements), Chennai, is requested to make the required transfer entries in the government accounts for 2018-19 and provide a certificate confirming the transfer.
Relevance to property and land matters
G.O.Ms.No.61 concerns an internal government fund transfer. It does not state any change to land ownership, land classification, planning permission, property registration, patta, acquisition or land use. Property buyers, owners and land professionals are not assigned any duty or payment under the document.
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Common questions
Does G.O.Ms.No.61 change any land or property rule?
No land or property rule is stated in the document. It sanctions and accounts for a government contribution to the State Innovation Fund.
How much was transferred to the State Innovation Fund?
The Tamil Nadu Government sanctioned the transfer of Rs. 100 crore for 2018-19.
What happens to money left unused in the State Innovation Fund?
The fund is non-lapsable. An unused balance is carried forward and remains available for sanctioning innovative schemes in a subsequent financial year.
Which officials are responsible for completing the transfer?
The Member Secretary of the State Planning Commission must prepare and present an adjustment bill to the Pay and Accounts Officer (East), Chennai. The Accountant General (Accounts and Entitlements), Chennai, is requested to make the transfer entries and provide a certificate.
