JAMMU, Jan 15: J&K Govt issued directions over Balanced Pace of Expenditure.
Directions read “During the last quarter of the current financial year the revenue expenditure should be limited to z0% of revised budget allocation and in the month of March, the expenditure should be limited to 15% of such allocation.
In the last month of the current financial year, payments may be made only for the works duly executed, and the goods and services already procured. Hence, no amount should be released in advance in the last month with the exception of the loans or advances to government servants as per service conditions or on compassionate grounds or to disaster victims as a measure of relief and rehabilitation.
Rush of expenditure on procurement of goods and services should be avoided during the last month of the current financial year to ensure that codal procedures are complied with and there is no infructuous expenditure.
Director Finance (s)/Financial Advisor (s) are advised to specially monitor this aspect in their respective departments. 10% economy cut is imposed on the budget allocation for OE, LTC, telephone, POL, travel, advertisements, publicity, hospitality &sumptuary activities.”
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