Avalokana Software launched in Karnataka
The Karnataka Chief Minister B S Yediyurappa recently launched Avalokana software. The software will enable the state government to access data on expenditures and sanctions incurred on 1,800 programmes.
It is a transparent e-governance tool that will provide Assembly constituency wise release of government grants and allocations to different government programmes. This will help the government to decide on releasing funds based on the expenditure incurred by the department. It will eventually increase the government hold over resources.
The software provides a focused view on scheduled caste sub plan, sustainable development goals and tribal sub plan and centrally sponsored scheme.
Funds of Central Government of India
There are three types of funds that are available with the Government of India. They are
- Consolidated Fund of India
- Contingency Fund of India
- Public Account of India
Consolidated Fund of India
The Consolidated Fund of India are filled by the indirect and direct taxes. Also, it is filled by the interests on loans. Article 266 of the Indian Constitution provides the provisions of these funds. In order to withdraw money from the Consolidated Funds of India, the Government of India has to get parliamentary approval.
Contingency Fund of India
The Contingency Fund of India has a corpus of Rs 500 crores. The provisions of this fund is provided under Article 267 of Constitution of India. The fund is used to meet unforeseen expenditure. The State governments have their own contingency funds.
Public Account of India
All the other money that are not covered in Consolidated Fund of India and received by the Government of India are credited to Public Accounts of India. It is made of National Investment Fund (that is the money earned by GoI through disinvestment), National Small Savings Funds, postal insurance, provident funds, defence funds, bank savings account of different ministries. Unlike Consolidated Fund of India, GoI need not take permission to take advances from this account.