Statement showing Guarantees given by the Union Government – Amendment in Civil Accounts Manual Correction Slip No. 34 dated11.09.2023
F.No TA 2-03001/3/2023 TA-CGA (e-12976)/360
Government of India
Ministry of Finance
Department of Expenditure
Office of Controller General of Accounts
Mahalekha Niyantrak Bhawan,
GPO Complex, -Block, INA, New Delhi- £10023
Dated, the 11th Sept, 2023.
OFFICE MEMORANDUM
Subject: Statement showing Guarantees given by the Union Government-reg.
Reference is invited to the Budget Division, DEA, MOF OM No.12(10)-B(SDY/2023 dated 25th July, 2023 on the above cited subject,
2. The proposal of the Budget Division for amendment of provisions contained in para 10.10.4 of Civil Accounts Manual has been considered by this Office to enable Pr.CCAs/CCAs/CAs(ic) to maintain all records related to the Sovereign Guarantees and assist the Financial Advisors (FAs) in discharge of the responsibilities as envisaged in the Rule 280(i1) of GFR, 2017. A copy of the Correction slip to CAM issued in this regard 1s attached for your reference (copy enclosed).
3. In this regard, it is stated that as per the existing practice, a copy of the Guarantee agreement is not endorsed to Pr.AO of Ministries/Departments concerned. The Budget Division is therefore, requested to issue an Advisory to Administrative Division of Ministries/Departments which deals with the proposal relating to Sovereign Guarantees on Government account to send the documents listed below to their Pr.AOs on regular basis for reporting, monitoring and review of Guarantees and maintenance of Guarantee information in GFR 25 and IGAS-1. This will enable Pr.AOs to furnish the requisite information to office of CGA for inclusion in Union Government Finance Accounts:
3.1 Copy of the Guarantee agreement containing terms and conditions for checking correctness of calculations of the guarantee fee. Schedule of guarantee fee receivable and received
3.2 Class, sector of Guarantee.
3.3 Details of Joan indicating purpose and amount etc.
3.4 Repayment, schedule of loans
3.5 Rate of Guarantee fee per annum
3.6 Copies of other related documents while updating GFR 25 (outstanding Principal, interest etc.at the end of the period).
3.7 Inputs/information as per the prescribed format of ‘IGAS-1:Guarantees given by the Central Government’
This issues with the approval of the Controller General of Accounts.
(Parul Gupta)
Dy. Controller General of Accounts (TA)
F.No TA 2-01001/3/2023 TA-CGA (e-13989)/360
Government of India
Ministry of Finance
Department of Expenditure
Office of Controller General of Accounts
Mahalekha Nivantrak Bhawan,
GPO Complex, E-Block, INA, New Delhi-110023
Dated, the 11th Sept, 2023.
Correction Slip No. 34
Subject: Amendment in Civil Accounts Manual Revised Second Edition-2007 Volume-I &Il (Reprinted in 2012)
| Existing reference of CAM | Amendments |
| Para 10.10.4 |
The para 10.10.4 of CAM may be substituted with the following:- The Pr. CCAs/CCAs/CAs shall be responsible to maintain guarantee register. To do this, they shall obtain necessary details from all Administrative Divisions of their Ministries/Departments dealing with sovereign guarantees on Government account. The information relating to Statement Number-4/ IGAS-1 of the Finance Accounts of the Union Government, for the guarantees outstanding at the end of a financial year shall be called by CGA from the Pr. CCAs/CCAs/CAs of each Ministry/Department. The Pr. CCAs/CCAs/CAs shall be responsible to send the duly verified statement to the Finance Accounts Section of the office of CGA, latest by 31 May each year. Such returns sent by the Pr. AO will also show the cases of guarantees if so, invoked during the year. Since the payments for invoked guarantees shall be treated as loans, the figures of paid amounts in the Statement should be based on the figures booked in the accounts. Administrative Division of Ministries/Departments would be required to send the documents listed below to their Pr. AOs on regular basis for reporting, monitoring and review of guarantees and maintenance of Guarantee information in GFR 25 and ‘IGAS-1. This will enable Pr. AOs to furnish the requisite information to office of CGA for inclusion in Union Finance Accounts. (i) Copy of the Guarantee agreement containing terms and conditions for checking correctness of calculations of the guarantee fee. Schedule of guarantee fee receivable and received To ensure the accuracy. the Pr.AO should also confirm the figures to be included in the IGAS-1) with concerned Administration Divisions. Before forwarding to Office of CGA, |
This issues with the approval of the Controller General of Accounts.
(Parul Gupta)
Dy. Controller General of Accounts (TA)
COMMENTS