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Rising Kashmir > Blog > Top Stories > J&K admin takes stock of budget spending for 2024-25
Top Stories

J&K admin takes stock of budget spending for 2024-25

RK News
Last updated: May 29, 2024 12:48 am
RK News
Published: May 29, 2024
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CS chairs meeting with Administrative Secretaries
Directs officials to expedite fund utilization for critical projects

Srinagar, May 28:Chief Secretary AtalDulloo chaired a meeting today with Administrative Secretaries to assess the utilization of funds allocated after the passing of the Vote on Account (VoA) for the fiscal year 2024-25 and to evaluate the implementation of Centrally Sponsored Schemes (CSS) in Jammu and Kashmir.
Dulloo scrutinised the works uploaded by each department on BEAMS (Budget Estimation, Allocation, and Monitoring System) and examined the funds released for these projects. He inquired about the expenditure incurred thus far and the progress made in completing these works.
The Chief Secretary urged the Administrative Secretaries to review their department’s list of works on BEAMS and eliminate long-pending incomplete projects from the portal. He stressed the need to streamline fund releases on BEAMS to ensure timely completion of seasonal activities in the Agriculture Production Department and land acquisition through Revenue and Forest Departments.
Dulloo directed officials to prioritize funding for critical projects transferred from the Jammu and Kashmir Projects Construction Corporation (JKPCC) to the Public Works Department (PWD) for expeditious completion. He also called for accelerating expenditure on NABARD-funded projects to access additional tranches from the organization.
Reviewing the projects funded by JKIDFC (Jammu and Kashmir Infrastructure Development Finance Corporation), the Chief Secretary instructed officials to adjust the remaining funding for incomplete projects from the regular budget. He emphasized exploring the possibility of undertaking works related to critical village infrastructure, including ensuring last-field irrigation facilities, in convergence with the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
Regarding the collection of non-tax revenue, Dulloo urged officers to intensify efforts to enhance revenue collection compared to the previous year. He emphasized making revenue collection more efficient by leveraging technology and other necessary measures.
Principal Secretary of Finance, Santosh D. Vaidya, provided insights into various aspects of this year’s budget and presented a brief analysis of expenditure trends over the past decade, from 2014-15 onwards. He detailed the current expenditure trends in the Union Territory.
The meeting highlighted expenditure-wise categorization of works, delays in project completion, revenue, capital, and own resources expenditure, and identified issues affecting the smooth execution of projects.
It was noted that both project completion and the budget have significantly increased over the past 5-6 years. Total expenditure increased from Rs 35,681 crore in 2014-15 to Rs 87,501 crore in 2023-24, while capital expenditure rose from Rs 9,330 crore to Rs 22,628 crore during the same period.
The meeting also discussed receipts and expenditure under CSS over recent years, revealing that departments received Rs 10,324 crore for 110 schemes in 2023-24, nearly double the amount received in 2021-22.
Regarding the current year’s budget, total receipts stand at Rs 9,993 crore, with expenditure reaching around Rs 11,465 crore.
It is pertinent to mention that the Parliament passed the VoA for the Union Territory pending the passage of the regular budget due to the LokSabha elections in the country.

 

 

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