Principal Secretary, Finance oath to members of JAKFAS

Srinagar, Sept 04- In an impressive oath-taking ceremony held at SKICC, Sh. Santosh D. Vaidya, Principal Secretary, Finance Department, administered the oath to the newly elected members of the Jammu and Kashmir Finance and Accounts Society. The newly elected members of JAKFAS include President Rashim Deepika, Financial Advisor, Science and Technology Department; Vice President Kashmir, Rafiq Shah , CAO; Vice President Jammu, Rahul Mahajan, AO; and General Secretary, Akram Thakar, CAO, who all took the oath during the function.
Shri Santosh D. Vaidya, in his address, congratulated the newly elected team of JAKFAS. He highlighted the transparency in finances that has been achieved over the last two years, acknowledging the significant role played by Finance cadre officers. He emphasized the importance of balancing revenue and expenditure and underscored the important role of Financial Advisors in the Administrative Department in managing this balance within the framework of various schemes.

He also discussed the importance of managing the debt of the UT of J&K over the next 10 years, noting that while the debt to GSDP ratio should be in the range of 30-40%, it is crucial to maintain this proportion as GSDP grows, even if the overall debt increases. He expressed confidence in the Finance Department, stating that it is the strongest he has ever seen.
Shri Vaidya pointed out the need for substantial computerization and technological intervention in treasuries, highlighting that significant infrastructure and investments will be made in the coming years. This modernization will increase the capacity to handle transactions and reduce errors in treasury operations. He also touched upon the recent special package related to the police budget of Rs. 12,000 crores and the transition to PFMS.
Shri Vaidya emphasized the importance of three key words, E, P and N i.e. Empowerment, Protection, and Nurturing within the association. Empowerment relates to addressing demands and grievances and mentioned that a committee has been constituted to look into the cadre restructuring of J&K Accounts Services. He emphasized that alongside empowerment, Associations should also focus on protection and nurturing, which involves supporting members during difficult times, especially when officers face penalties for no fault of their own. He encouraged the Association to take the lead in nurturing officers through grooming, training, and skill development. He also mentioned that a proposal for training 300 officers of the Finance Department at IIM Jammu is in its final stages and urged JAKFAS to work along these lines.
Earlier, , President JAKFAS, Rashim Deepika, extended a warm welcome address, apprised the Principal Secretary regarding issues concerning the Accounts cadre,
Others who spoke on the occasion included Shri Mohd. Sultan Malik, Director General Budget; Shri Rafiq Shah, VP Kashmir; Sh. Rahul Mahajan, VP Jammu; and General Secretary Mohd Akram Thakar. They spoke about the reforms undertaken under the able leadership of the Principal Secretary.
Zafirah Bashir, CAO, University of Kashmir, conducted the proceedings of the oath-taking ceremony, while Imtiyaz Ahmad Wani, Director Finance, presented the formal vote of thanks.
Others who were present on the occasion included the executive body of JAKFAS and senior officers of the Finance Department.