50 percent release of revenue and capital outlay


On the first day of the financial year, releasing half of the budget outlay – revenue and capital – by Lieutenant Governor Manoj Sinha assumes significance in that it shows how in limited working season of Jammu and Kashmir, necessary tendering processes for starting various works and projects is accorded due and timely importance. Not only was it going to accelerate the pace of development but by increasing Government spending, more demand would be generated in the system to set in more revival process hit by lockdowns etc and also satisfy the supply chains and thus the economic momentum. While doing so, it should be incumbent upon the concerned departments to utilize funds on regular periodic intervals, say on quarterly basis so that spending could be even and not accumulated for the last quarter. While it has been made mandatory for the departments to submit monthly reports in respect of progress made and where funds are spent under various components, at the same time , a cap of 30 percent for the last quarter stipulates that the pace of developmental works should be equally spread and be on even basis. UT of Jammu and Kashmir having been approved the highest ever budget of Rs.1,08,621 crore this year must be utilized judiciously, on priority projects but with proper financial discipline, under proper administrative approvals, promoting online and e- commerce and etendering to bring in more transparency and accountability. Proper utilization, again, should be subjected to austere auditing and monitoring of expenditures and end use of spending which should be in accordance with the Financial codes and other stipulations. It is commendable decision to have public viewing through EMPOWERMENT web-portal so that peoples’ participation in the development process becomes the avowed objective in a practical f