General Financial Rules, 2017 (Part 1 of 4) |
Note: Keeping the significance and magnitude of the topic (i.e. GFR, 2017) we have covered the topics (including objectives and one words) in four parts. Students are advised to go through all the 4 posts related to GFR in order to achieve optimum results. All the topics are written by topic experts, hence an appreciation from the students will give them encouragement to bring more such quality exams oriented topics. |
General Financial Rules, 2017 (A Brief Introduction) |
As per Rule 1 of GFR 2017 General Financial Rules 2017 shall be applicable to all Central Government Ministries/Departments, attached and subordinate bodies. The provisions contained in GFRs are deemed to be applicable to Autonomous Bodies except to the extent the bye-laws of an Autonomous Body provides for separate Financial Rules which have been approved by the Government. The financial procedures of the Government are regulated by these rules. Came into force on : 08th of March 2017 Head of Department: Person not below the rank of Deputy Secretary Financial Year : 1st April to 31st March. (GFR 42) |
Chapter | Rule | Description |
Chapter 1 ( Introduction) Rule 1 to Rule 6 | Rule 1 | Applicability |
Rule 2 | Definitions | |
Rule 5 | Any doubt related to GFR will be referred to Ministry of Finance | |
Chapter 2 Rule 7 to Rule 41 |
| General System of Financial Management |
Rule 21 | Standards of financial propriety | |
Chapter 3 Rule 42 to Rule 70 |
| Budget Formulation and Implementation |
GFR 42 | Financial Year (1st April to 31st March) | |
GFR 43 & GFR 44 | Presentation of budget in Parliament. (Article 112 to 116), Preparation, formulation and submission of budget. | |
Rule 45 | Receipt Estimates (Tax and Non-Tax Revenues) | |
Rule 50 | Expenditure Estimates | |
Rule 51 | Demand of Grants | |
Rule 55 | Vote on Account | |
Chapter 4 Rule 71 to Rule 129 | Government Accounts | |
Rule 71 | Preparation and Presentation of Accounts : Prepared by CGA and certified by CAG, submitted to President of India within 6 months of close of the financial year to be laid before each House of Parliament. | |
Rule 73 | Principal of Accounting : Accounts of GoI shall be maintained by, GAR - 1990, Accounting Rules for Treasuries and Account Code Volume-III. | |
Rule 74 | Cash Based Accounting : Government Accounts shall be prepared on a cash basis. | |
Rule 75 | Period of Accounts : Central Government shall record transactions from 1st April to 31st March. | |
Rule 76 | Currency in which Accounts are kept : Indian Rupees | |
Rule 83 | Charged or Voted Expenditure: 1. Every expenditure is charged on the Consolidated Fund of India and is not subject to vote by the legislature. 2. All other expenditure met out of the Consolidated fund of India is treated as Voted Expenditure. 3. Charged or Voted Expenditure is shown separately in the accounts as well as in the Budget document. | |
Rule 84 | Capital or Revenue Expenditure | |
Chapter 5 (Works) (Rule 130 to Rule 141) | ||
Chapter 6 (Procurement of Goods and Services) (Rule 142 to Rule 206) | ||
Definition of Goods | Rule 143 | |
Authorities competent to purchase goods | Rule 145 | The authority which is competent to incur expenditure may sanction the purchase of goods required for use in public service has the authority to order purchase of goods in accordance with Delegation of Financial Power Rules. |
Powers for Procurement of Goods | Rule 147 | Ministries or Departments have been delegated full powers to make their own arrangements for procurement of goods that are not available on GeM. |
Government e-Marketplace | Rule 149 | i) Up to Rs. 50k through any of the available suppliers on the GeM, meeting the requisite quality, specification and delivery period. ii) Above 50k and up to Rs. 10 Lakhs: through the GeM Seller having lowest price. (excluding automobiles where limit of 30 lakhs will continue) iii) Above Rs. 10 Lakhs : Using online bidding or reverse auction tool. |
Registration of Suppliers | Rule 150 | If goods and services are not available on GeM, the Ministry or Department may also register suppliers of goods and services. Such registered suppliers should be boarded on GeM as and when the item or service gets listed on GeM. Suppliers will be registered for a fixed period of 1 to 3 years. |
Rule 151 | Debarment from bidding. | |
Purchase of goods without quotation | Rule 154 | Purchase of goods without inviting quotations or bids on the basis of a certificate to be recorded by the competent authority up to Rs. 50k (As per latest Amendments) |
Purchase of goods by Purchase Committee | Rule 155 | Purchase of goods on each occasion may be made on the recommendation of a duly constituted Local Purchase Committee (consist of three members) costing : Above Rs. 50k up to Rs. 5 L (As per latest amendments) |
Purchase of goods by Obtaining Bids | Rule 158 | i) Advertised Tender Enquiry ii) Limited Tender Enquiry (GFR 162) iii) Two-stage Bidding (GFR 164) iv) Single Tender Enquiry (GFR 166) v) Electronic Reverse Auctions |
E-Publishing | Rule 159 | It is mandatory for all Ministries/Departments and their attached and subordinate offices and Autonomous/Statutory Bodies to publish their tender enquiries, details of bid awards on the Central Public Procurement Portal (CPPP). (Except where confidentiality, national security is concerned) |
E-Procurement | Rule 160 | It is mandatory for all Ministries/Departments to receive all bids through e-procurement portals. |
Rule 173 | Speaks about transparency, competitions, fairness and elimination of arbitrariness in the procurement process. The condition of prior turnover and prior experience may be relaxed for startups. | |
Procurement of Services | Rule 178 | The Ministries or Departments may hire professionals, experts, consultants for specific jobs or outsource certain services. |
Identification of likely Sources | Rule 183 | i) Consulting Services up to Rs. 25 Lakhs : Preparation of list of potential consultants may be prepared and formal or informal enquiries from other Ministries or Departments involved in similar activities. ii) Consulting Services above Rs. 25 Lakhs: In addition to (i) above, an enquiry for seeking ‘Expression of Interest’ should be published on CPPP portal, on GeM and on its own website. |
Short Listing of Consultants | Rule 184 | |
Preparation of Terms of Reference (TOR) | Rule 185 | i) Precise statements and objectives. ii) Outline of the tasks to be carried out iii) Schedule for completion of tasks iv) The support of inputs to be provided by the Ministry or Department to facilitate the consultancy; v) The final output that will be required of the Consultant. |
Preparation and Issue of Request for Proposal (RFP) | Rule 186 | RFP is the document to be used by the Ministry/Department for obtaining offers from the consultants for the required service. The RFP should be issued to the shortlisted consultants to seek their technical and financial proposals. |
Receipt and Opening of Proposals | Rule 187 | i) Proposals should generally be asked from consultants in a ‘two bid’ system, with technical and financial bids sealed separately. ii) The bidder should seal these two envelopes in a single envelope and submit it to the Ministry/Department. iii) On receipt, the technical proposals should be opened first at the specified date, time and place. |
Evaluation of Technical Bids | Rule 189 | First technical bids are evaluated by a Consultancy Evaluation Committee (CEC). |
Evaluation of Financial Bids | Rule 190 | After being declared technically qualified by CEC, a financial bid is opened by the concerned Ministry/Department. |
Chapter 7 ( Inventory Management) Rule 207 to Rule 223) | ||
Rule 213 | Physical Verification of fixed Assets - Rule 213 (1) Verification of consumables - 213 (2) | |
Rule 215 | Physical Verification of Library books | |
Chapter 8 (Contract Management) Rule 224 to Rule 227 | ||
Chapter 9 ( Grant in Aid and Loans) Rule 228 to Rule 263 | ||
Chapter 10 (Budgeting and Accounting of Externally Aided Projects) Rule 264 to Rule 274 | ||
Chapter 11 ( Government Guarantees) Rule 275 to Rule 283 | ||
Chapter 12 (Miscellaneous Subjects) Rule 284 to Rule 324 | ||
Rule 295 (264 in GFR 2005) | Any arrear claim against the Government which is preferred after Two years of its becoming due shall be paid only after being investigated by the Head of the Department . | |
Rule 296 | Time-barred claim of Government servants. |
FORMS | |
Forms Sr. No. | Description |
GFR 5 | Register showing expenses by Heads of Account , Maintained by a DDO, records the allocation under minor or sub-head of account of each bill. |
GFR 10 | Report of Surplus, Obsolete and Unserviceable Stores for Disposal |
GFR 12 | Utilization Certificate 12-A for Autonomous Bodies 12-B for Loans 12-C for State Governments |
GFR 16 | Report of transfer of a Gazetted Officer |
GFR 16-A | Joining Report |
GFR 18 | ACCESSION REGISTER - Library Books |
GFR 20 | REGISTER OF POLICYHOLDER- Recovery of Postal Life Insurance Premia |
GFR 22 | Register of Fixed Assets |
GFR 23 | Stock Register of consumables such as Stationery, Chemicals, Spare parts etc. |
GFR 24 | Register of Assets of Historical /Artistic value. |
GFR 25 | Government Guarantees. |
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