Autonomous bodies asked to return idle funds parked in their bank accounts to CFI

by Nidhi Bhati

The Ministry of Finance has asked all government-funded autonomous bodies (ABs) and grantee institutions to return unspent amount parked in their bank accounts or held by them as fixed deposits to the Consolidated Fund of India (CFI), a government official told Financial Express. The move is part of the government efforts to rebalance its Budget amid revenue crisis. Budget support to ABs for 2020-21 is estimated at Rs.878.2 billion. In addition, from 1 August 2020, more than a dozen autonomous bodies have been directed to open Treasury Single Account (TSA) with the Reserve Bank of India (RBI) for meeting their actual expenditure requirements on a real-time basis. TSA ensures just-in-time releases to ABs to pay vendors and suppliers, bypassing the earlier system of transferring their annual budget allocations in tranches to respective AB’s bank accounts. The move has reduced fresh floating of funds with these bodies as the funds will now remain parked with the CFI until actual expenditure.

References
1. https://www.financialexpress.com/economy/cost-control-centre-asks-autonomous-bodies-to-return-idle-funds-parked-in-their-bank-accounts/2085121/
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
6.9 0.0
Consumer Sentiments Index
Base September-December 2015
46.5 0.0
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Quarterly CapEx Aggregates
(Rs.trillion) Sep 19 Dec 19 Mar 20 Jun 20
New projects 3.25 5.55 3.91 0.68
Completed projects 0.85 1.66 1.73 0.24
Stalled projects 0.41 0.61 0.76 0.11
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Implementation stalled projects 0.91 0.13 9.78 0.08
Updated on: 26 Sep 2020 9:28AM
Quarterly Financials of Listed Companies
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All listed Companies
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 Expenses -3.1 -2.2 -1.8 -28.4
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 PAT margin (%) 5.3 5.1 2.4 5.3
 Count of Cos. 4,452 4,431 4,245 4,112
Non-financial Companies
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 Expenses -6.7 -6.4 -4.9 -38.4
 Net profit -13.8 -13.8 -48.4 -60.2
 PAT margin (%) 5.7 5.7 3.4 4.2
 Net fixed assets 10.4 12.9
 Current assets 4.9 3.0
 Current liabilities 5.0 4.8
 Borrowings 8.3 14.7
 Reserves & surplus 5.7 2.1
 Count of Cos. 3,328 3,307 3,199 3,098
Numbers are net of P&E
Updated on: 26 Sep 2020 9:28AM
Annual Financials of All Companies
(% change) FY18 FY19 FY20
All Companies
 Income 8.4 13.4 1.2
 Expenses 9.9 13.6 1.6
 Net profit -40.3 21.9 -12.3
 PAT margin (%) 2.0 2.4 5.1
 Assets 10.9 9.3 9.9
 Net worth 7.5 8.6 6.8
 RONW (%) 3.5 4.3 7.2
 Count of Cos. 27,531 26,568 2,842
Non-financial Companies
 Income 8.7 13.9 -2.3
 Expenses 8.8 14.0 -1.6
 Net profit -9.0 25.0 -19.7
 PAT margin (%) 2.7 3.2 5.8
 Net fixed assets 7.1 5.3 16.0
 Net worth 6.1 8.6 3.9
 RONW (%) 5.7 6.9 9.6
 Debt / Equity (times) 1.0 1.0 0.7
 Interest cover (times) 2.1 2.4 3.6
 Net working capital cycle (days) 77 70 47
 Count of Cos. 22,401 21,603 2,134
Numbers are net of P&E
Updated on: 20 Sep 2020 8:59PM