Srinagar, Apr 3: The Jammu and Kashmir Union Territory (UT) government has announced a series of measures aimed at streamlining the payment process for infrastructure projects and addressing outstanding liabilities from the previous fiscal year.
According to a circular issued by the Finance Department, the UT administration is focused on enhancing capital expenditure and optimizing the utilization of funds from centrally sponsored schemes (CSS) while ensuring efficient financial management.
The UT government has attributed the increased capital expenditure to a combination of factors, including higher tax revenue, constrained non-priority revenue expenditure, and enhanced central support.
To address any outstanding liabilities from capital works, stores, maintenance, and other expenses that may have remained unpaid due to expenditure norms in the final quarter and month of the previous fiscal year, the government has outlined a comprehensive strategy.
As per Rule 57(2) of the General Financial Rules (GFR) 2017, unpaid bills from the past year can be adjusted against the current year’s budget allocations. Drawing and Disbursing Officers (DDOs) have been instructed to prepare fresh bills in the PaySys system, referring to the unpaid bill numbers from 2023-24.
These bills, both capital expenditure (Capex) and revenue, will be entertained by the concerned Treasury Officers for payment from the 2024-25 budget allocations, subject to the fulfilment of necessary codal requirements and adherence to administrative approvals, technical sanctions, and allotment processes as per the GFRs.
The government has reiterated its commitment to ensuring the timely discharge of all duly incurred liabilities, facilitating seamless infrastructure development and utility services across the Union Territory.
Treasury officers have been instructed to verify the bills thoroughly before releasing payments and to ensure financial propriety as per the General Financial Rules.
