Jaitley releases the Revised General Financial Rules (GFR) 2017
Jaitley was addressing all the Financial Advisors in the different Central Ministries/Departments after releasing the Revised General Financial Rules (GFRs) – 2017 at the Conference of the Financial Advisors (FAs) in the national capital here on Tuesday.
The Conference of FAs was organised by the Department of Expenditure, Ministry of Finance, Government of India.
The Finance Minister appreciated the role of Financial Advisors in the smooth implementation of Budgeting and Accounting reforms.
Jaitley stressed on the challenges lying ahead for the Government as a whole to ensure that expenditure on schemes and projects should start from the beginning of the financial year to leverage the early passing of the Budget.
The Finance Minister also applauded the efforts that went into bringing- out the Revised GFRs within a very short span of time to meet the need of the changing environment.
Earlier speaking on the occasion, Ashok Lavasa, Finance Secretary stated that the Revised GFR -2017 aims to provide a framework within which an organization manages its business in a financially prudent manner without compromising its flexibility to deal with varied situations and that the new GFRs 2017 will enable an improved, efficient and effective framework of fiscal management while providing the necessary flexibility to facilitate timely delivery of services.
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