New Delhi: In a bid to tackle delay in implementation of crucial projects, all ministries have been asked to initiate the budgetary process much in advance so that funds can be released soon after the Budget is passed.
"After the Budget is passed, normally it takes 5-6 months to get the allocated funds released. In a recent cabinet meeting, all ministries have been told to start the necessary work in advance for the next Budget," Agriculture Minister Radha Mohan said at the 41st foundation day of the Agricultural Scientists Recruitment Board (ASRB).
This was conveyed to all ministers informally after a recent cabinet meeting, he said.
"We have been told in our Department to start the process now so that funds for crucial schemes are released within 15 days after the Budget is passed in February," he said on the sidelines of the event when asked to elaborate on the issue.
The timely release of allocated funds is crucial for the successful implementation of various schemes, he added.
The Finance Ministry has already initiated the Budgetary exercise for the 2015-16 fiscal by seeking inputs from various Ministries and Departments.
The ministries have been asked to submit revised estimates of expenditure for 2014-15 and demand for grants for the next financial year beginning April 1, 2015.
The Budget, which contains revised estimates for the current financial year and estimates for the next fiscal, is presented on the last working day of February by the Finance Minister in the Lok Sabha.
This would be the second Budget of the Modi government.
