FD releases 50 pc Revenue budget, asks COs to ensure further allocations

‘In some cases, it will be given on case to case basis’

Excelsior Correspondent

JAMMU, Mar 31: The Finance Department today released 50 percent funds under Revenue budget for the financial year of 2023-24 except under few heads for which the budget will be released on case to case basis.
An order to this effect was issued by the Finance Department today.
The heads under which budget will be released on case to case basis include Leave Travel Concession, Purchase of Vehicles, Furniture & Furnishings, Interest, Purchase of Power, Cost Price of Food Grains, Snow Clearance, Share under Revenue Component and Disaster Response Fund.
The Finance Department has asked the Controlling Officers to ensure further budgetary allocations strictly as per Demand for Grants and funds shall be released through BEAMS.
“The Controlling Officers shall immediately release the funds to the line departments within a period of one week from the date of authorization by the Finance Department. The BEAMS Administrator at Administrative Department level shall report compliance to the Finance Department on monthly basis,” the order read.
It directed that all procurement of Goods and Services shall be made through GeM portal while the process of e-tendering, wherever required, shall be initiated immediately in the month of April and completed by or before 31st May for the year 2023-24.
It added that all Departments/District Development Commissioners shall align their Work Plans based on schemes as per the instructions conveyed yesterday.
“All recommendations of the two conference of the Chief Secretaries shall form part of budget outlay. No diversion shall be made under any pretext unless expressly authorized by the Finance Department,” the order said.
It added that the Controlling Officers/DDOs will strictly monitor revenue collection as per fixed targets on monthly basis which can be accessed in the Annual Financial Statement, 2023-24 available on Finance Department’s website and shall also be communicated through BEAMS.
“All the Director Finances/FA&CAOs shall ensure submission of monthly revenue realization statements and they shall also monitor the expenditure statements on BEAMS and furnish the same before 5th of following month for monthly review by the Finance Department,” the order read.
It said all the Government transactions shall be made through electronic mode without involving any cash transactions in the Government offices or other offices which are directly or indirectly controlled by the Government, excepting for few small denominations.
The Finance Department has asked all Controlling Officers/DDOs to conduct periodic reconciliation of remittances and drawls with Treasury and the Office of the Accountant General (A&E), J&K to ensure correct reflection of income and expenditure in the Finance and other Accounts.