Excelsior Correspondent
SRINAGAR, Sept 4: Santosh D Vaidya, Principal Secretary, Finance Department, administered the oath to the newly elected members of the Jammu and Kashmir Finance and Accounts Society (JAKFAS) at SKICC here today.
The elected members include; Rashim Deepika, Financial Advisor, Science and Technology Department, as president; Rafiq Shah, CAO, as vice president Kashmir; Rahul Mahajan, AO, as vice president Jammu; and Akram Thakar, CAO, as General Secretary.
Vaidya congratulated the new JAKFAS team, emphasizing the transparency in finances achieved over the last two years, which he attributed to the dedicated work of Finance cadre officers.
He highlighted the critical role of Financial Advisors in balancing revenue and expenditure within the framework of various schemes.
Addressing the future, Vaidya stressed the importance of managing Jammu and Kashmir’s debt over the next decade.
He noted that while the debt-to-GSDP ratio should ideally remain within 30-40%, it must be maintained proportionately as the GSDP grows, even if the overall debt increases.
He expressed confidence in the Finance Department, calling it the strongest he has seen, and underscored the need for technological advancements in treasuries, promising significant investments in infrastructure to enhance transaction handling and reduce errors.
Vaidya also discussed a recent special package of Rs. 12,000 crores for the police budget and the transition to PFMS.
Focusing on the themes of Empowerment, Protection and Nurturing within the association, Vaidya announced the formation of a committee to address cadre restructuring and urged the association to support members during difficult times.
He also mentioned the upcoming training proposal for 300 Finance Department officers at IIM Jammu.
Earlier, JAKFAS president Rashim Deepika welcomed the Principal Secretary and highlighted issues concerning the Accounts cadre.
The event also featured remarks from key Finance Department officials and concluded with a vote of thanks by Director Finance, Imtiyaz Ahmad Wani.
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