Finance Minister Nirmala Sitharaman is expected to launch a Single Nodal Agency (SNA) dashboard, which would allow ministries and agencies to track the transfer of funds to states and their use.
According to a statement from the finance ministry, the SNA dashboard was created to provide stakeholders of the SNA model with the essential feedback and monitoring tools in the operation of the schemes. "Intelligible, informative, and visually appealing visuals reflect releases made to different states by ministries, further releases made by state treasuries to the SNA accounts, expenditure reported by the agencies, interest paid by banks to SNA accounts, and so on," it stated.
"The PFMS SNA dashboard will give a platform for ministries/departments to monitor their transfer of money to states, their use by implementing agencies, and assist in government cash management," the ministry said in a tweet. The SNA dashboard is part of a public financial management reform initiative that began in 2021 and focuses on the release, disbursement, and monitoring of funding for Centrally Sponsored Schemes (CSS).
"This new approach, now called as "SNA model", mandates that each state identify and designate a SNA for each scheme. All funding for that state under a specific plan will be credited to this account, and all expenses will be paid from this account by all other implementing agencies engaged "In a statement, the ministry added.
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