Para 10.10.3 — CAM

10.10.3 Government Guarantee Policy,2022 issued by Ministry of Finance vide OM. No. 12(13)- B(SD)/2020-Part dated 17th May, 2022, stipulates the procedure to be followed while extending guarantees and other salient features of guarantees given by Government of India. In order to ensure greater transparency in fiscal operations, Rule 6 of the FRBM Rules, 2004 requires government to publish a disclosure statement on guarantees, at the time of presenting the annual financial statement and the demands for grants. This statement covers, inter alia, details regarding the class and number of guarantees, amounts guaranteed, outstanding, invocations, guarantee fee payable and other material details. These statements are compiled by the Line Ministries/Departments and submitted to CGA Office, for onward submission to Ministry of Finance (Budget Division). Based upon the inputs, a statement of Guarantees given by the Central Government is presented as an annexure in the Receipt Budget.