Panaji: In order to inculcate fiscal management for the remaining months of the current fiscal, the Goa government has issued circular imposing several financial restrictions including 25 per cent cut in Budgetary revenue expenditure excluding interest payments, repayment of debt, payment of salaries and pension.
State Under Secretary (Finance) Pranab Bhat, in a circular issued in December 21, 2023, has also banned creation of new posts in all the departments, autonomous bodies, corporations of the government, until further orders.
The restrictions have come in force from January 01, 2024 onwards.
The circular has mentioned that various instructions on economy measures are mandated in order to achieve the targets and standards set out in the Goa Fiscal Responsibility and Budget Management Act, 2006, as also, to provide adequate funds for developmental activities under Capital Account and o=to restrict/manage expenditure on Revenue Account.
The government has said that for the current Financial Year 2023-24, every Department shall affect a 25 per cent cut in Budgetary revenue expenditure excluding interest payments, repayment of debt, payment of salaries and pension.
The circular has mentioned that not more than 20 per cent of the Budgetary Estimates shall be spent in the remaining quarters of this financial year, except under flagship schemes of the Government and wherever possible, may be reduced by 40 per cent till the financial year end.
In a major restriction, the circular has said that there shall be ban of creation of new posts ni al Departments/autonomous bodies/Corporations of the Government until further orders.
The government has banned the purchase of several items for various departments till March 31, 2024.
The Director of Accounts has directed not to entertain any bills of purchases of the restricted items.
“In the event the Departments are ni urgent need of the aforestated items, then specific prior approval of Department of Finance (Expenditure) should be obtained,” the circular reads.
The government has said that the Director, Directorate of Accounts, is required ot ensure that the expenditure under each Demand of Grants does not exceed the restrictions put above unless specifically authorized by Finance (R&C) Department.
The circular has also said that the Departments shall ensure that, for the months of January, 2024 and March, 2024 payment is made for the goods and services actually procured and other related expenses, in the previous months and the reimbursement of the expenses already incurred and not for new items of purchase of goods and services with the exception of Advance payment / payment ot contractors, for work orders already issued. Loans and advances, for Government servants and other relief measures as per schemes in force.