In recent times, the Union Territory of Jammu and Kashmir has embarked on a remarkable journey towards progress and development. One of the most notable and transformative aspects of this journey has been the implementation of unprecedented transparency in its financial management. Through a series of innovative measures, the administration has instilled trust, accountability, and efficiency in its financial processes, bringing about a significant positive impact on the region’s development. Let us delve into the key features of this progressive transformation.
No Execution of Works Without Administrative Approval and E-Tendering
Gone are the days of opaque decision-making and questionable awarding of contracts. The administration of Jammu and Kashmir has enforced a strict policy of requiring administrative approval and e-tendering for all public works projects. This measure has brought transparency to the forefront, ensuring that projects are awarded based on merit and adherence to guidelines, while minimizing the possibility of corruption and malpractices.
100% Physical Verification and GEO Tagging of Works
To ensure that public funds are utilized judiciously and for their intended purposes, the administration has adopted a comprehensive approach to monitoring projects. Each work undertaken is subjected to a 100% physical verification process, accompanied by GEO tagging. This includes pre and post-execution photographs, leaving no room for discrepancy and ensuring that projects are implemented as planned.
Shifting of 121 Treasuries on e-Kuber Portal of RBI
In a significant move towards digitization, the administration has shifted 121 treasuries to the e-Kuber portal of the Reserve Bank of India (RBI) for government payments. This step has streamlined the payment process, minimizing delays, and providing greater visibility into financial transactions. The secure and efficient platform has become a catalyst for enhanced financial management.
Steep Reduction in Construction Cost and Fast-Tracking of Work Execution
Through efficient and transparent procurement processes, the Union Territory has achieved a remarkable reduction in construction costs. By eliminating inefficiencies and ensuring that contracts are awarded to the most competitive bidders, public funds are utilized optimally. Additionally, the fast-tracking of work execution has led to timely project completion, accelerating the pace of development across the region.
Entire Budget Allocation made online via Budget Management Application (BEAMS)
The traditional approach of budget allocation has been replaced with a modern online system, the Budget Management Application (BEAMS). This digital platform provides real-time insights into budget allocation and expenditure, enabling better financial planning and resource utilization. As a result, decision-makers can make informed choices that align with the region’s developmental priorities.
Transparent and Rule-Based Procurement fully GFR Compliant
The Union Territory of Jammu and Kashmir has embraced transparency and accountability by adhering to the General Financial Rules (GFR). By ensuring compliance with these regulations, the administration has established a strong foundation for ethical and lawful procurement practices. This has fostered trust among citizens and investors alike, stimulating economic growth.
JKPaySys – An Online Billing System for Enhanced Efficiency
JKPaySys, an advanced online billing system, has revolutionized payment processes in the Union Territory. To enhance transparency and accountability, this system validates bills against e-tendering and online allocation through BEAMS, ensuring that only legitimate transactions are processed. This integration of technologies has reduced the scope for irregularities and malfeasance.
The journey of Badalta Jammu and Kashmir showcases an inspiring tale of progressive governance. Through the implementation of unprecedented transparency in financial management, the region has laid the groundwork for sustainable development and economic growth. The measures adopted, including administrative approval and e-tendering for projects, physical verification with GEO tagging, digital treasury management, and compliant procurement practices, have set new benchmarks for other regions to follow.
As the Union Territory moves forward with enhanced project completion rates and optimal utilization of resources, it stands as a shining example of how transparency and accountability can transform the trajectory of development and bring about positive change in the lives of its citizens. With its resolute commitment to transparency, Badalta Jammu and Kashmir paves the way for a brighter and more prosperous future for the entire nation.
(Author is research scholar in financial management practices and a columnist)
