JAMMU, NOVEMBER 19: Minister for Finance, Labour & Employment and Culture, Dr Haseeb A Drabu has stressed the need for fine-tuning the expenditure management and monitoring system to ensure that unwarranted fiscal liabilities are not created.
Chairing a meeting convened here today to discuss the roadmap for clearing the accumulated liabilities of various departments, Dr Drabu asked the Planning & Development Department to submit consolidated information regarding the financial liabilities of various departments so that the government can chalk out a plan of action for the same.
The meeting was attended by Financial Commissioner Planning & Development and Principal Secretary to CM, B B Vyas, Commissioner Secretary Finance, Navin Kumar Choudhary and Administrative Secretaries of PDD, PWD (R&B), Housing & Urban Development department, Industries and Commerce department, Forest department, PHE Department, Irrigation & Flood Control department, Rural Development department and Tourism department.
Deliberations were held in detail regarding the liabilities of various departments and the Minister asked the officers to adhere to the guidelines of the Finance Department and ensure that undue liabilities are not created. He also asked for identification of core issues that lead to creation of liabilities.
“There is a need to put in place checks and balances mechanism in the Government Departments to avoid creation of liabilities,” the Finance Minister said.
Later, the Finance Minister chaired another meeting to discuss the rationalization of departmental accounts with Jammu and Kashmir Bank.
It was given out in the meeting that different departments have opened around 2.5 lakh accounts with the banks having deposits of Rs 4,000 to 5,000 crore.
Underlining the importance of effective financial management, the Finance Minister asked the concerned officers to devise a plan for better management of these accounts. He also stressed the need for streamlining the spending process so that the money, instead of being parked in bank accounts, is utilized properly for developmental works.
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