- Now the Finance Dept has given an ultimatum to the departments to deposit the interest amount; if the amount is not deposited by 31st August, the 4318 crores received from the Center may get stuck
Kanhaiya Lodhi, Bhopal
The amount received for the schemes run by the Central Government is deposited in the NSA bank account by different departments of the state government. Interest is also paid on the amount deposited in these accounts. As per the prescribed procedure, the state and the Center get a share of the interest received on the deposited amount, but till now no department has deposited the interest amount back to the Central government. Till the time this amount of interest is not received by the central government, the central government will not give the amount of 4318 crores received in the form of tax and duty to the state government.
This has increased the problems of the Finance Department. Meanwhile, now the Finance Department has written a formal letter to all the departments and has given an ultimatum to deposit the share of interest received on the amount deposited for the centrally sponsored schemes in the Consolidated Fund of India by August 31, due to which there has been a situation of panic in the departments. Now the departments have started calculating the interest on the amount received for the schemes of the Central Government in their respective departments, which is deposited in the NSA account, so that the interest amount of the Central Government’s share can be deposited in the Consolidated Fund of India on time.
It is mandatory to deposit the interest amount to get special capital assistance
In the letter written by the Finance Department to all the departments, it has been duly warned that for receiving the amount under special capital assistance from the Government of India, it is a mandatory condition that the amount of interest earned on the central share deposited in the NSA account during the financial year 2023-24 will have to be deposited in the Consolidated Fund of India and a certificate will have to be given in the prescribed form.
Not only this, this certificate will also have to be signed by the Additional Chief Secretary, Principal Secretary or Secretary of the Finance Department and then it will have to be sent to the Central Government. Therefore, after the total interest amount earned in the NSA bank account during the financial year 2023-24 is deposited in proportion to the central share and state share, the Finance Department should issue a certificate with the signature and seal of the head of the department in the prescribed form and make it available to the Finance Department by August 31, so that the consolidated information can be sent to the Government of India.
Amount fixed for MP in form of central taxes and duty, but not released yet
The central government has fixed the percentage of amount to be received from central taxes and duty for the rest of the states including MP. The central government has fixed a total amount of Rs 55 thousand crore for this, out of which MP has to get 7.85 percent amount, this amount is about Rs 4318 crore. But even though the allocation of this amount has been done, the central government has not released the amount yet. Until the interest amount is deposited, the state will not get this amount. Therefore, now the Finance Department has asked for certificates from all the departments after depositing the interest amount, so that there is no problem in getting this amount.
