Judicious use of financial resources with quick & transparent decision making key to Armed Forces combat readiness, says Rajnath Singh
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Judicious use of financial resources with quick & transparent decision making key to Armed Forces combat readiness, says Rajnath Singh

by Janam Web Desk
Nov 14, 2022, 02:44 pm IST
in News, India

New Delhi: Raksha Mantri Rajnath Singh has exhorted Defence Accounts Department to ensure judicious use of financial resources through quick & transparent decision making, terming it as the key to strengthen the combat readiness of the Armed Forces. Inaugurating the two-day Controllers’ Conference of DAD in New Delhi today, the Raksha Mantri described the officials of the department as the sentinels of the defence finance system who play their part in nation building by managing the allotted the funds with financial prudence.

The DAD handles the budget allocated to Ministry of Defence , which translates into pay and allowances of personnel, payment to pensioners, processing of financial advice cases for various procurements and processing of first & third party claims, apart from the other auxiliary activities, including internal audit function. In Union Budget 2022-23, MoD has been allocated a total budget of Rs 5.25 lakh crore, including Rs 1.19 lakh crore for pensions.

The agenda points of the conference include Public Finance Management: Towards a system of faceless transactions; IFA System: An aid to effective decision making; Efficiency & Performance Audit: From Compliance to Assurance Framework; Improving Service Delivery; Challenges in Human Resource Management and Sustaining Major IT systems developed by the DAD.

Rajnath Singh laid special emphasis on ensuring timely payments to beneficiaries, i.e., soldiers, pensioners and third parties. He hoped that the session on ‘Public Finance Management: Towards a system of faceless transactions’ will pave the way for transparency in defence financial transactions.

On the occasion, the Raksha Mantri released a stamp and a special cover envelope commemorating 275 years of the DAD. The inaugural session was attended by Chief of Defence Staff General Anil Chauhan, Chief of Air Staff Air Chief Marshal VR Chaudhari, Chief of the Naval Staff Admiral R Hari Kumar, Defence Secretary  Giridhar Aramane, Secretary, Department of Ex-Servicemen Welfare Vijoy Kumar Singh, Financial Advisor (Defence Services) Rasika Chaube and Chief Post Master General Manju Kumar.

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