Finance Ministry Praises Odisha’s SNA Model for Fiscal Management
Bhubaneswar: The Ministry of Finance has praised the Odisha Government’s Single Nodal Agency (SNA) model for fiscal management. Union Minister for Finance & Corporate Affairs Nirmala Sitharaman launched the SNA Dashboard of PFMS (Public Financial Management System) as a part of the Azadi ka Amrit Mahotsav celebrations by Ministry of Finance, Government of India in [...]
Bhubaneswar: The Ministry of Finance has praised the Odisha Government’s Single Nodal Agency (SNA) model for fiscal management.
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman launched the SNA Dashboard of PFMS (Public Financial Management System) as a part of the Azadi ka Amrit Mahotsav celebrations by Ministry of Finance, Government of India in New Delhi recently.
At the event, the SNA model for fiscal management adopted by Odisha Government has been praised by the Finance Ministry.
Prudent fiscal governance and successful implementation of the new SNA model helped Odisha have a cutting edge over others.
The SNA Dashboard displays various States’ public finances in the public domain.
During the event, officials from Finance Department, Government of Odisha made a presentation on Implementation of SNA Model in Odisha.
Odisha was invited by Ministry of Finance, Government of India as the sole presenter amongst states at the event, being an early adopter of SNA Model, as per reports.
The new SNA model for release of funds under Centrally Sponsored Schemes (CSS) and their monitoring were brought by Government of India in March, 2021.
The model envisages just-in-time release of funds to the States and to down level agencies thereafter, greater efficiency in CSS fund utilization, tracking of funds; leading to better Cash Management of the Government.
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