Finance Ministry Permits Government Departments to Carry Over Quarterly Expenditure

GG News Bureau

New Delhi, 29^th May. The Ministry of Finance has allowed Ministries and government departments to carry over their unspent amounts to subsequent quarters.

The Department of Economic Affairs, in an office memorandum dated May 25 said, “Ministries and departments are permitted to utilise the unspent balances from quarter one to quarter two for cash management purposes. Unspent balances from quarters two and three may be used in quarters three and four respectively after the approval of the Expenditure Secretary has been obtained.”

According to the memorandum issued by the department on May 25, 2022, the Ministry/Department should take prior approval of the Secretary of Expenditure under any circumstances.

The relaxation in the rules will have to be formally approved before using the balance. There is no option to get approval after work.

Expenditure not exceeding 33 per cent of the budget estimates of a financial year can be made in the last quarter.

Similarly, for the last month this amount should not exceed 15 percent.