Jun 17, 2012

Don't keep DDs more than 5 days, says govt

Thiruvananthapuram. Govt issue a new circular regarding the timely expenditure of plan fund, govt cautioned officials against keeping undelivered DDs as a means to avoid lapse of fund. The circular says that ,If a DD is not issued to the parties concerned in five days after it is drawn,the officials concerned will invite disciplinary action. The officials will pay penal interest at 12% per annum for such DDs.The circular also asked the govt departments to ensure 10% expenditure by June 30, 30% in the second quarter ending September 30,60% in third quarter ending December 31 and the remaining 40% of the outlay in the last quarter of the financial year, subject to a further ceiling of 10% plan expenditure in March 2013
READ CIRCULAR 31/2012 dated 02.06.12

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