Onam expenses estimated at ₹20,000 cr; govt tightens treasury operations
The move reduces the bill clearance threshold to ₹10 lakh, requiring Finance Department approval for larger bills.
The move reduces the bill clearance threshold to ₹10 lakh, requiring Finance Department approval for larger bills.
The move reduces the bill clearance threshold to ₹10 lakh, requiring Finance Department approval for larger bills.
Thiruvananthapuram: The government has tightened regulations on treasury operations in a bid to meet the high expenses of the Onam season.
The threshold for bill clearance, which was earlier applicable to bills above ₹25 lakh, has now been reduced to ₹10 lakh. This means that bills exceeding ₹10 lakh can only be cleared with the special approval of the Finance Department. A directive to this effect was issued to all treasury branches yesterday.
The revised ceiling, however, will not affect customers withdrawing their deposits or those receiving statutory benefits.
According to government estimates, at least ₹20,000 crore will be required to meet the financial commitments of the Onam season. Meanwhile, a proposal to release one instalment of dearness allowance to government employees is already under the minister's consideration. A decision is yet to be taken on whether the allowance will be disbursed during the Onam season itself or deferred until just before the upcoming local body elections.