Sanjeev Pargal
JAMMU, July 24: The Government has decided to release 100 per cent budget to all Departments and District Development Commissioners well ahead of schedule to ensure that ongoing developmental works are not delayed and more works could be taken up for the current financial year at the earliest.
Official sources told the Excelsior that 50 per cent budget has already been released to all Departments and the District Development Commissioners while rest of the budget would be released in the next few days, well ahead of the schedule to facilitate timely completion of the ongoing developmental works.
“The Government has issued the directions that entire 100 per cent budget during the current financial year should be released by August-September instead of delaying it to December-January to ensure that developmental works undertaken through the District Development Boards (DDBs) and other means didn’t suffer for want of funds and are well executed in time to avoid cost overrun,” sources said.
They pointed out that in view of Budget Estimation Allocation Management System (BEAMS), the release of 50 per cent budget to all Government Departments and District Development Commissioners was delayed to May-June as newly developed software took time in transfer of money.
However, now since 50 per cent budgetary allocations have been transferred to all the Departments and the District Development Commissioners, the Government was prioritizing release of remaining 50 per cent funds by August-September this year i.e. nearly six months before the end of current financial year.
Last year, 25 per cent budget was released during first quarter, another 25 per cent in the second quarter, 20 per cent during third quarter and 30 per cent in the last quarter.
However, this year, the budget would be released well ahead of the schedule to facilitate all Government Departments and the District Development Commissioners to give pace to the developmental works and ensure that they were not delayed for want of funds.
Sources said the Planning Development and Monitoring Department has to mandatorily upload department-wise `Name of the Schemes/Works/Projects, forming part of the Capex budget for the fiscal years of 2018-19, or, as per the format notified from time to time along with respective allocations on its website.
“Only such works will be authorized for execution, which have prior administrative approval, technical sanction and appropriate financial back-up. Expenditure monitoring across all departments will be done on a real time basis,” sources said.
Sources said the fiscal reforms introduced over the past three years were aimed at bringing stabilization in the State’s economy and reduce volatility for economic revival through enhanced investments, public expenditure and widening the net of socio-economic security.
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