Take views of financial advisers, govt tells officials

The Delhi government has asked principal secretaries and secretaries to take the views of “integrated financial advisers” before executing proposals of their departments. The finance department has issued an office memorandum to all head of departments, asking them to adopt the practice of engaging integrated financial advisers ( IFAs). The move came after it was observed that the proposals being sent to the finance department do not contain views of IFAs according to relevant rules and provisions. It has asked department heads to take the views of the advisers in budget formulation, expenditure management, procurement, contract, screening of proposals among others. “Roles and responsibilities of IFAs have been clearly spelt out in various communications of both the state government and the government of India, as well as in the delegation of Financial Power Rules, 1978,” Principal Secr- etary ( Finance) Renu Sharma said in the office memorandum. In the memorandum, Ms Sharma said, “All administrative secretaries are hereby requested to involve the integrated financial advisers in all proposals of the department, which have clear economic and financial implications.” On screening of proposals, she said IFAs would be responsible for examining all proposals before referring them to the finance department with their specific recommendation.