Finance Division
The Secretary of the Department is the Chief Accounting Authority of the Department. As Chief Accounting Authority he performs his duties with the assistance of a Financial Adviser and a Chief Controller of Accounts.
Finance Division is currently headed by Joint Secretary & Financial Adviser (JS & FA). Director/Deputy Secretary (Budget & Finance) reports to JS & FA for matters relating to Financial Concurrence, Accounts and Budget of the Department. The major functions of IFD under JS & FA are as under:-
- Examination and Financial concurrence of fertilizer subsidy bills.
- Views/comments to all policy matters and subsidy claims referred to IFD by the Divisions of the Department.
- Coordination work relating to Standing Committee of Fertilizers.
- Preparation of Annual Budget, matters relating to Supplementary Demands for Grants, re-appropriation of funds.
- Preparation of Monthly/Quarterly Expenditure Projections (MEP/QEP).
- IFD is responsible for exercising expenditure control and management, ensuring rationalization of expenditure and compliance of economy measures in accordance with the instructions of the Department of Fertilizers including regular monitoring of expenditure through monthly/Quarterly reviews and submission of reports to the concerned.
- Coordination of all matters relating to the examination of the DDG by the Parliamentary Standing Committee on Finance.
- Coordination, compilation, printing and laying of the Detailed Demand for Grants (DDG)
- Monitoring of pending IR/C&AG/PAC Audit Paras.
- Accounting of all Payments and Receipts of the Department and consolidation on monthly and annual basis in the form of Appropriation. Accounts, Finance Accounts and Statement of Central Transactions.
- Arranging Internal Audit of utilization of funds released out of Consolidated Fund of India and maintenance of accounts records.
- Maintaining Accounts of Loan and Equity of Government of India with PSUs.
- Rendering advice to the Department on Accounts related matters.