Budget to be passed by June-end

Budget to be passed by June-end

Srinagar: The government has geared up officials of finance department to undertake budget preparations for tabling and passing it in the legislature before June-end.
The directions were passed shortly after minister for finance, labour, employment and culture Dr Haseeb Drabu on Tuesday assumed charge of his office and took a comprehensive review meeting of the current state of the economy and functioning of the finance department.
Drabu directed for immediately undertaking budget preparation exercise which is to be passed by the Legislature before June-end. He underscored that the budget should be reform driven and key outcome oriented, rather than presenting aggregation of numbers.
Drabu has planned to present budget 2015-16 in January but it could not materialise after the fall of government due to the then Chief Minister Mufti Sayeed’s demise. Last month, Governor NN Vohra passed vote on account to meet state’s immediate financial requirements on revenue and capital expenditures.
Drabu emphasized that while adequate funds would be provided for developmental activities, it is critical that a sound expenditure monitoring mechanism be established to ensure tangible results on ground. He directed finance secretary to work out a detailed mechanism in this regard.
Emphasizing on the technology driven monitoring of the flagship programmes of the state government and centrally sponsored schemes, Dr Drabu asked for preparation of a calendar indicating milestones of fiscal and financial achievements under these programmes.
While reviewing the liquidity position and expressing satisfaction over relatively better financial closure last year, Dr Drabu ordered for immediate release of Rs 400 crore on Tuesday to clear the salary, wages and pending General Provident Fund liability of the employees.

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