Most government departments in Jammu and Kashmir have utilized only about 50 per cent of the budget allocation with only three months left for the current financial year to end, a meeting chaired by the state’s Finance Minister Haseeb Drabu was informed.
Drabu stressed the need for keeping liabilities under check and to ensure that the projects are taken up in consonance with the resource allocations to avoid unwarranted fiscal liabilities, an official spokesperson said on Friday.
During the meeting, detailed discussions were held regarding expenditure and liability position of various key departments including Housing & Urban Development, Higher Education, Power Development, R&B and School Education.
“The meeting was informed that most of the departments have utilized 50 percent of the budgetary allocation for the current fiscal,” the spokesperson said.
Addressing the administrative secretaries, Drabu emphasized on strict implementation of budget directives to ensure expenditure upto 70 percent till 3rd quarter and rest 30 percent in the last quarter of the fiscal year. He asked the administrative secretaries to accelerate the utilization of resources allocated in the budget.
He asked the officers to adhere to the guidelines of the Finance Department and ensure that unnecessary liabilities are not created. He also asked for identification of core issues that lead to creation of liabilities.
“Expenditure management and monitoring system needs to be put in place while making expenditure,” Dr Drabu said adding that expenditure should be backed up with financial allocations to avoid unwarranted fiscal liabilities.
Under regular Capex budget in the State sector, the Government has released 42 percent uptoNovember 2017 compared to the last year level of 28 percent, the meeting was informed.