| Finance |
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The Finance Wing of the Inland Waterways Authority of India (IWAI) is responsible for financial management, budgeting, accounting, financial analysis and reporting in relation to the Authority’s accounts, Central Sector schemes and other initiatives of the Union Government administered by IWAI.
Functioning as the central financial authority within IWAI’s governance framework, it oversees budget formulation, fund allocation and release, compliance with Government of India financial rules and prescribed accounting standards, coordination of internal and external audits, and management of extra-budgetary resources such as bonds. The Finance Wing ensures transparent, prudent and efficient utilisation of financial resources in conformity with statutory provisions, audit requirements and applicable Government guidelines, thereby supporting the orderly and sustainable development of National Waterways.
| Key Functions of the wing |
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| Function Area | Description |
| Budget Preparation and Allocation | Formulates annual budgets in coordination with the Ministry of Ports, Shipping and Waterways and IWAI operational wings, ensuring adequate resource provision for capital and revenue expenditure. |
| Accounts Maintenance | Maintains books of accounts, prepares financial statements, and ensures statutory compliance and accounting standards as required under the IWAI Act and rules. |
| Grant & Fund Management | Manages receipt and utilisation of Central Government grants (capital and revenue) to support IWT projects, including assignment of drawing limits and fund flow under Central Sector schemes. |
| Billing, Scrutiny & Payment | Billing, scrutiny, and payment involve preparation and submission of duly approved bills with supporting documents, verification of vouchers and release of payments |
| Audit Coordination and Compliance | Coordinates with internal and external audit agencies (including CAG audits) to furnish audit reports, resolve audit observations and uphold financial accountability. |
| Extra-Budgetary Resource (EBR) Management | Facilitates raising of bonds and mobilisation of EBRs for infrastructure development, and manages servicing of such financial instruments within budgetary guidelines. |
| Financial Reporting & Analysis | Prepares income, expenditure, balance sheet and cash flow reports; conducts variance analysis and financial reviews to support management decision-making. |
| Financial Management and Outputs |
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Financial Metrics and Fund Flow
The financial management of IWAI, including capital and revenue grants, fund utilisation, cash balances, and servicing of bonds or other extra-budgetary resources (EBRs), is reported annually in the IWAI Annual Report. Key aspects such as total grants received, expenditure, deficit positions, cash and bank balances, and bond servicing are detailed in the audited accounts, providing a comprehensive view of fund flow, utilization, and compliance with Government of India guidelines.
Extra-budgetary resources (EBRs) such as Government-guaranteed bonds are managed prudently to fund infrastructure development on National Waterways, with interest payments and principal repayments fully accounted for in the Annual Report.
For detailed figures and the latest financial statements, please refer to the IWAI Annual Report 2023–24.