SRINAGAR: The Jammu & Kashmir Government has directed administrative secretaries to hold monthly review meetings in their departments to ensure the uniform utilization of capital expenditure budget and to avoid rush of expenditure in the last quarter of a financial year.
These directions were passed during the meeting held on June 08 under the chairmanship of Arun Kumar, chief secretary, to review physical/financial progress achieved under J&K’s capital expenditure budget for 2022-23 and 2023-24.
“In order to ensure the uniform utilization of capital expenditure budget over the entire financial year and to avoid the rush of expenditure in the last quarter particularly the month of March, all administrative departments shall hold monthly review meetings in their respective departments,” reads the record note of the meeting.
The government also directed the Development Expenditure Division (DED)-II shall also put an arrangement in place for monthly review of capital expenditure budget vis-a-vis financial and physical targets.
In the meeting director general, Development Expenditure Division-II informed that the annual expenditure under the capital expenditure budget is showing an increasing trend since 2019-20.
“The number of projects completed under the UT sector has risen from 6933 in the year 2019-20 to 22766 in the year 2022-23. The current year’s target has been pegged at 32615 which is a substantial increase over last year’s achievements,” the minutes of the meeting state—(KNO)
