THIRUVANANTHAPURAM: The Finance Department has launched an IT-enabled monitoring system for Plan fund utilisation. For this, a new category of treasury account has been introduced - Plan Scheme Treasury Savings Bank Account (PSTSB).
Earlier, Plan fund utilisation was done through Special Treasury Savings Bank Account, which gave little scope for monitoring. Hence, a large amount of funds are lying idle in many accounts. Its further utilisation proved difficult since the scheme-wise expenditure of Plan schemes could not be traced.
According to the Finance Department, every deposit and withdrawal in a PSTSB will be monitored and need separate administrative sanction. A highlight of the PSTSB is the sub-accounting system in which the accounts of every plan scheme will be captured distinctively in the treasury system. The entire profile of transactions under a Plan scheme along with the orders concerned can be retrieved from the treasury system at any moment.
The officer who gives administrative sanction should upload a scanned copy of every administrative sanction in the e-ledger, the modified application of existing e-LAMS, the electronic ledger account monitoring system.
Withdrawal of the PSTSB can only be made for payment to the end beneficiary. The new system is applicable for the Plan fund utilisation of all government departments, agencies and organisations.