Finance Minister Nirmala Sitharaman will unveil a Single Nodal Agency (SNA) dashboard on Tuesday, providing a platform for ministries/departments to monitor money transferred to states and their use.

The finance ministry stated in a statement that 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. The Public Financial Management System (PFMS) has developed the dashboard.

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“The dashboard depicts 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, etc. in intelligible, informative, and visually appealing graphics,” the statement read.

“The SNA dashboard of PFMS will provide a platform for ministries/ departments to monitor their transfer of funds to states, its utilisation by the implementing agencies, and assist in cash management of the government,” the finance ministry tweeted.

The SNA dashboard is part of a public financial management reform initiative that began in 2021 to improve the way money for Centrally Sponsored Schemes (CSS) is released, disbursed, and monitored.

“This revised procedure, now referred to as the SNA model, requires each state to identify and designate an SNA for every scheme. All funds for that state in a particular scheme will be credited in this bank account, and all expenses will be made by all other implementing agencies involved from this account,” the ministry statement read.

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As a result, the SNA model ensures that funding for the CSS is allocated to states on schedule and in accordance with numerous criteria. “Effective implementation of this model has brought about greater efficiency in CSS fund utilisation, tracking of funds, the pragmatic and just-in-time release of funds to the states; ultimately all contributing to better cash management of the government,” it added.

The dashboard is being unveiled as part of the finance ministry’s Azadi Ka Amrit Mahotsav celebrations.