Mumbai, May 2 (KNN)  In a move that will help tiny units working with KVIC, Khadi and Village Industries Commission has extended the validity period of budgetary allocation of different schemes up to May-31 of the amount provided for the financial year 2013-14.
 
“Keeping pace with such unavoidable situation the validity period of budgetary allocation made for the year 2013-14 is extended up to 31st May 2014 in respect of both Plan and Non-Plan fund,” KVIC said in a circular to its different departments.
 
It said that the extension has been given to complete implementation of different KVIC activities. The purpose is also to enable the KVIC staff to recoup to Central Office, the expenditure incurred on pay, travel allowance, contingencies etc.
 
In another circular, the commission has conveyed its decision to authorize its state and divisional offices to open separate scheme wise bank account.
 
This would mean that the state offices have to have separate saving bank accounts for disbursal of funds under the Market Development Assistance Scheme etc.
 
“It will facilitate for reporting un-spent balance as on the last working day of the month to central office according to the bank balance/ cask book balance duly reconciling them,” KVIC said. (KNN Bureau)