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Ahead of new fiscal, FD authorizes release of 50 percent of interim budget

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Srinagar: As the new financial year commences, the Finance department of J&K Government on Saturday conveyed authorisation for release of 50 % of the capital expenditure and revenue expenditure of Jammu & Kashmir’s interim budget approved by the Parliament in February this year.

In two separate orders the Finance department accorded sanction for the authorization of 50% of the interim budget (vote-on-account) 2024-25 under CAPEX and Revenue budget in favour of all the departments/district development commissioners.

According to these orders, the Director Finance(s)/Director(s) Planning/Financial Advisor & CAO(S)/Joint Director(s) Planning and Controlling Officers of all the  Departments shall be personally responsible for uploading of approved  Work Plans (projects/works/activities) on BEAMS portal with the  approval of competent authority by or before 20th April, 2024.

“All the District Development Commissioners shall furnish the District Plans (project/work/activity wise) after seeking approval of competent authority by or before 30th of April, 2024,” read the orders.

It further states that in respect of district sector projects, CPO(s)/AO(s) of each district shall be responsible for uploading of the work plans on BEAMS portal once the same is approved by the competent authority within the stipulated time. (KNO)

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