New Delhi, April 7 -- The Centre has not just changed how much it spends, it has also changed how it spends. A single nodal agency, rolled out in 2021-22, now ensures that funds are released only when they are needed, replacing the earlier practice of upfront transfers under centrally sponsored schemes. The mechanism under the public financial management system (PFMS) cuts idle cash and lowers borrowing costs.

The shift to just-in-time releases, backed by real-time visibility of fund flows, is beginning to show results. As fiscal pressures rise, tighter control over spending and lower idle balances are helping the government manage its borrowing needs more efficiently.

SNA-Sparsh (Single Nodal Agency - Samayochit Pranali Ekikrit Shighra...