J&K Govt authorises addl funds for 2024-25 Budget implementation

Srinagar, Jan 29: The Jammu and Kashmir Finance Department has authorised the release of additional funds under the revenue budget for the financial year 2024-25.
According to an official communique, funds will be released up to 100% of the Budget Estimates (BE) or Revised Estimates (RE) for 2024-25, whichever is lower, for departments where expenditure has reached 70% or more. For departments with expenditure below 70%, funds will be released up to 85% of the BE or RE for 2024-25.
The release of funds will depend on the expenditure levels of each department. Full funding will be provided for heads related to salaries and similar expenditures. Departments with lower spending will receive partial funding, in line with the financial plan.
For detailed expenditure heads such as travel expenses, telephone bills, office expenses, and publicity, funds will be released up to 90% of the allocated budget if spending in these areas exceeds 55%. If spending is below 55%, the release will be capped at 85% of the total allocation. Funds for electricity charges and similar expenses will be released in full as per the approved budget or revised estimates.
Certain expenditure heads, such as leave travel concession, vehicle purchases, furniture, interest payments, power purchases, food grain costs, snow clearance, and the Disaster Response Fund (DRF), will require prior approval before funds are released.
The Finance Department will review these expenditures on a case-by-case basis based on proposals submitted by the departments.
The release of funds will adhere to the financial measures issued on January 11, 2025. The Finance Department has instructed all departments to comply with these guidelines.
Departments have been advised to follow the guidelines carefully and ensure proper use of funds in accordance with the government’s financial plan. This authorization will help departments continue their work while maintaining financial discipline. The Finance Department will also monitor fund utilization to ensure adherence to the approved budget.