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Discuss Some General Financial Rules

Discuss Some General Financial Rules

General Financial Rules

General Financial Rules – The goal of any rule is to create a framework within which an organization can conduct its business in a financially prudent manner. Without compromising its flexibility to deal with different situations. The 2005 GFRs have been extensively revising to promote the simplicity and transparency of the government’s financial system and procedures. The new GFR 2017 is expecting to provide an improved, efficient and practical framework for financial management. While providing the flexibility needed to facilitate the timely delivery of services.

The General Financial Rules (GFR) are a set of rules and ordinances issued by the Government of India that everyone should follow when it comes to public finance matters. These rules and regulations are treated as operating instructions to be followed by all government departments and organizations. And particular bodies unless otherwise provided in these rules. In 1947 a general financial regulation was issuing for the first time, which brings together all the existing orders and instructions in financial matters in one place. These were later modified and given as GFR of 1963 and GFR of 2005.

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Introduction

These rules (2017) General Financial Regulations and are effective immediately. And apply to all central government ministries/departments, affiliated and subordinate bodies. The provisions containing in the GFR are consider using the Autonomous Bodies unless the statutes of an Autonomous Body provide for separate financial regulations approved by the government.

Definition:

(i) “Accounting officer” means the manager of an accounting office or the manager of a payroll and accounting office established by the account division system;

(ii) administrator of a territory of the Union, whatever his name;

(iii) “Allocation” means the allocation of funds contained in a primary fund unit to cover specific expenses;

(iv) “Auditor” means the head of an auditor;

General Financial Rules Management System

All money receive by the government or on behalf of the government, whether for government fees or deposit, transfer. Otherwise, shall be withdraw without delay by general or special regulations that may be promulgates under articles 150 and 283. By transferring to the government—account (1) of the constitution.

Rule 1

(1) (I) By Article 284 of the Constitution, all money received from or deposited in any public officials engaged in his capacity. As such in connection with the affairs of the Union, other than general income or funds taken or received by the government deposited in the public account.

(ii) All money receive or deposit in the Supreme Court of India or any court other than a High Court in a Union Territory will also be treat by paragraph (i) of Auxiliary Rule.

(2) The administrator of the account to which these funds are crediting and the withdrawal of funds are subject to the relevant provisions of the 1990. Government Accounting Rules and the 1983 Central Government Accounting Rules (Receipts and Payments). or other general or special mandates. Set this Names can be given.

Rule 2

(1) Rental of buildings and land. If the maintenance of a leasable building is delegating to a city department other than the Central Construction Department. The manager or head of that department is responsible for the proper collection of the rent.

(2) The procedure for determining and collecting the rent of a rented building is generally govern by the regulations for buildings. That directly subordinate to the Central Department of Public Works.

(3) Detailed rules and procedures for collecting and collecting rent from government buildings. And also land are containing in the service regulations of the departments responsible for these buildings.

Rule 3

(1) Date of entry into force of the sanction. Subject to compliance with the provisions contained in the Rules on Transfer of Financial Powers, any rule, embargo. Or else  order will enter into force from the date of issue, unless otherwise specified in the same form they will enter into validity.

(2) The date of creation of the sanctions for temporary positions must be indicate. In orders sanctioning the creation of a quick, additional position.

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