G.O.Ms.No.93, State Innovation Fund Release of Funds for 2016-17, 2016
The Planning, Development and Special Initiatives (SP.1) Department issued G.O.Ms.No.93 on 15 November 2016, directing the transfer of Rs. 150 crores as the Government contribution to the State Innovation Fund for 2016-17. The order sets out the accounting treatment and the responsibilities of the State Planning Commission, the Pay and Accounts Officer (East), Chennai, and the Accountant General (A&E), Chennai.
What the document does
G.O.Ms.No.93 of the Planning, Development and Special Initiatives (SP.1) Department, dated 15 November 2016, sanctions the transfer of Rs. 150 crores to the State Innovation Fund for 2016-17. The amount had been provided in the Revised Budget Estimate for that year.
The State Innovation Fund had previously been created within the State Planning Commission by restructuring existing Part-II Schemes from the financial year 2015-16. Its purpose is to encourage innovation in government agencies.
Main provisions
G.O.Ms.No.93 contains the following financial and administrative directions:
- Rs. 150 crores is to be transferred as the Government contribution to the State Innovation Fund for 2016-17.
- The expenditure is to be debited to the specified account for transfers to the State Innovation Fund under Other General Economic Services.
- The same amount is to be credited to the State Innovation Fund under the specified reserve fund account.
- The Member Secretary, State Planning Commission must prepare an adjustment bill and submit it to the Pay and Accounts Officer (East), Chennai, so that the amount can be credited to the fund account.
- The Accountant General (A&E), Chennai must make the necessary transfer entries in the accounts for 2016-2017 and provide a certificate confirming the transfer.
- The Finance Department concurred with the issue of the order.
How the fund operates
The State Innovation Fund is described as a separate non-lapsable fund within the Public Account. This means that any unused balance is carried forward to the next financial year and remains available for sanctioning innovative schemes in a later year.
Earlier government orders had issued guidelines for identifying and implementing innovative schemes and had established the accounting procedure for transactions under the fund.
Who is affected
G.O.Ms.No.93 directly concerns the State Planning Commission, the Pay and Accounts Officer (East), Chennai, the Accountant General (A&E), Chennai, and government accounting authorities responsible for transferring and recording the funds.
The document does not change land ownership, land classification, planning permission, registration, patta, or property rights. Property buyers and owners are therefore not given any new duty or entitlement by this financial sanction.
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Common questions
Does G.O.Ms.No.93 affect my land or property rights?
No land or property rights are addressed. G.O.Ms.No.93 sanctions and records a transfer of money to the State Innovation Fund.
How much money was transferred to the State Innovation Fund?
The Planning, Development and Special Initiatives (SP.1) Department directed that Rs. 150 crores be transferred as the Government contribution for 2016-17.
What happens to money left unused in the State Innovation Fund?
The fund is non-lapsable. Any unused balance is carried forward and remains available for sanctioning innovative schemes in the following financial year.
Who must complete the accounting steps for the transfer?
The Member Secretary, State Planning Commission must submit an adjustment bill to the Pay and Accounts Officer (East), Chennai. The Accountant General (A&E), Chennai must make the transfer entries and provide a certificate.
