JAMMU, Jun 5: In a move aimed at speeding up financial decision-making, the Jammu and Kashmir Government has doubled the advance withdrawal sanction limit for Administrative Departments from Rs 1 crore to Rs 2 crore.
As per a notification issued by the Finance Department, Administrative Departments can now approve advance withdrawals up to Rs 2 crore with the concurrence of the Director Finance/Financial Advisor and Chief Accounts Officer, without seeking approval from the Finance Department.
However, proposals involving advance withdrawals above Rs 2 crore will continue to require the concurrence of the Finance Department.
The enhanced delegation of powers has been approved by the Lieutenant Governor under the Jammu and Kashmir Reorganisation Act, 2019, and is expected to facilitate quicker execution of government works and improve administrative efficiency.
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