Panchkula, Nov. 13 -- The Haryana government has decided to overhaul the disbursement of grants to state boards, corporations, universities and autonomous bodies by introducing a mechanism for direct treasury payments to beneficiaries, vendors and executing agencies, in a move aimed at preventing government funds from remaining idle in institutional accounts.
Under the new arrangement, these institutions will function as implementing agencies within the state's Integrated Financial Management System (IFMS), while payments will be processed through the treasury directly into the bank accounts of intended recipients.
The decision follows a meeting chaired by the Additional Chief Secretary (Finance) on October 6, whose recommendations were s...