GFR - General Financial Rules, 2017
· Railway Board vide it's letter No.2017/ F(X)II/PW/R dated 09.02.2018 advised all concerned to refer the rules under the GFR- General Financial Rules, 2017 and used them as broad principles while making financial decisions.
· Indian Railways being part of Govt of India, it is incumbent on Indian Railways to refer GFR in discharging financial powers.
· Although, historically processes have evolved on Indian Railways considering operational requirement of field, however, with merger of Railway Budget with General Budget, any substantive deviation from GFR has become part of reporting through the monthly PCDO by respective PFAs/FA&CAOs to Financial Commissioner/Indian Railways in order to reporting to Ministry of Finance.
· Iissued by Ministry of Finance, Dept of Expenditure.
· consists of 187 pages and 10 Chapters.
· GFR first issued were issued for the first time in the year 1947. These have subsequently modified and issued as GFR 1963 and GFR 2005.
· The following developments/Reforms/Innovative changes are necessitated revision of GFR 2005 and brought out GFR 2017.
ü Budgetary reforms like 1) Removal of distinction in non-plan and plan expenditure, 2) Merger of Railway Budget with General Budget 3) focusing on outcomes through an improved Outcome Budget document.
ü Reliance on DBT - Direct Benefit Transfer scheme to ensure efficient delivery of entitlements.
ü Introduction of new e-sites like Central Public Procurement Portal, GeM- Government e-Marketing portal, Non-Tax Revenue portal.
Click below for PDF of GFR 2017
NOTE: Candidates are advised to go through the GFR 2017, because in coming years, several questions in examinations are to be framed in reference to GFR, as the same is the basic source for exercising financial powers in Indian Railways.