Miscellaneous - This Day That Age   

dated July 5, 1958: Financial power

The Government of India have decided that administrative Ministries should be delegated greater financial powers which have so far been exercised by the Ministry of Finance. This decision has been taken mainly with a view to facilitating the execution of Plan schemes and removing administrative delays. For this purpose revised arrangements for budgeting and financial control have been approved by the Cabinet. These arrangements are expected to come into force shortly after the necessary arrangements for staffing and amendment of the financial rules and regulations have been made.

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