Integrated Finance Department | NITI Ayog

Integrated Finance aims to ensure a smooth and fast flow of financial advisory work. The Integrated Financial Advisor (IFA) is in charge of the budget and accounts sections in addition to the internal finance section.

The opinion of the integrated financial adviser is available to the administrative secretary, i.e. the CEO, NITI Aayog to make a decision. The IFA is more closely associated with the formulation of NITI Aayog’s schemes and budget from the early stages. The introduction of the integrated finance program aims to ensure a smooth and fast flow of financial advisory work. The Corporate Finance Division is overall responsible for the budget and accounts sections in addition to the internal finance section. Here are the missions of the Integrated Finance Department:

1. Ensure that the budget preparation schedule is adhered to and that the budget is prepared in accordance with instructions issued from time to time by the Ministry of Finance.
2. Thoroughly review budget proposals before sending them to the Ministry of Finance;
3. Ensure that complete departmental accounts are maintained in accordance with the requirements of the General Financial Regulations. Also ensure that the Department not only maintains its expenditure account against grants or credits, directly controlled by it, but also obtains figures for expenditure incurred by subordinate offices so that it has a complete picture of a month to month of all expenses within its jurisdiction;
4. Monitor and review expenditure progress against sanctioned grants through maintenance of necessary control records and issue timely warnings to controlling authorities when expenditure progress is not regular;
5. Ensure the proper maintenance of the register of liabilities and commitments, as required by the RGF. facilitate realistic preparation of budget estimates, monitoring of accounting debits and timely reimbursement of projected savings;
6. Sort the proposals for additional grant applications;
7. Formulate the Department’s foreign exchange budget and process individual cases of foreign exchange release in accordance with instructions issued by the Department of Economic Affairs from time to time;
8. Advise the administrative department on all matters falling within the scope of delegated authority. This includes all powers other than those vested in a service in its capacity as head of office. It must be ensured that the sanction issued by the administrative department in the exercise of the delegated powers clearly indicates that it is issued after consultation with the IFA;
9. Identify, in particular, specific savings in the event of the creation of positions and keep a register for this purpose;
10. Examine proposals for the redelegation of powers to subordinate authorities;
11. Remain closely associated with the formulation of programs and major spending proposals from their early stages;
12. Participate in the evaluation of progress/performance in the case of ongoing projects and other programs and ensure that the results of these evaluation studies are taken into account in the formulation of the budget;
13. Monitor audit objection resolution, inspection report, draft audit paragraphs, etc. ;
14. Ensure prompt action on audit reports and appropriations accounts, reports of the public accounts committee, the estimates committee and the public enterprises committee;
15. Review all spending proposals to be forwarded to the Ministry of Finance for approval or comments;
16. Ensure the regular and timely submission to the Ministry of Finance of quarterly staff statements and other reports and declarations required by it;
17. Render technical advice in all matters requiring clarity of the financial interpretation of the rules by the Secretary for Administration.
18. Implement a cash management system, cost saving measures, etc., as disseminated from time to time by the Expenditure Department.
19. Any other items as instructed/directed by the Department Financial Advisor.