Context
Recently, the Union Minister for Finance and Corporate Affairs launched the Single Nodal Agency (SNA) Dashboard during the Iconic Week Celebrations of Azadi Ka Amrit Mahotsav celebrations of the Ministry of Finance, in New Delhi.
About SNA Dashboard
- The SNA Dashboard forms part of a major public financial management reform that was initiated in 2021 with regards to the manner in which funds for Centrally Sponsored Schemes (CSS) are released, disbursed and monitored.
- This revised procedure, now referred to as the SNA model, requires each State to identify and designate a SNA for every scheme.
- All funds for that State in a particular scheme are now credited in this bank account, and all expenses by all other Implementing Agencies involved are affected from this account.
Significance
- Ensure Allocation of Funds: The SNA model ensures that allocation of funds to States for the CSS are made in a timely manner and after meeting various stipulations.
- Brought Greater Efficiency: Effective implementation of this Model has brought about greater efficiency in CSS fund utilization, tracking of funds, pragmatic and just-in-time release of funds to the States; ultimately all contributing to better Cash Management of the Government.
