Finance dept authorizes utilization of 50% funds

SRINAGAR: The Finance department has conveyed the authorization to the utilization of 50% funds out of five months Budget Estimates (31st October 2019 to 31 March 2020) under both Revenue and Capital components out of consolidated fund of the Union Territory of the Jammu and Kashmir pending the sanction of such expenditure by the parliament.
According to the order the detailed head-wise Revenue Budget shall be available on BEAMS. The Capital Budget shall be available only under object head 115-Works. “The departments shall upload the project/activity wise works on BEAMS by or before 4th of November 2019, positively. The matter shall be reviewed on 5th of November, 2019, 11.00 am at Jammu. The funds shall be utilized subject to the terms and conditions mentioned in the authorization conveyed through BEAMS with due fulfillment of all the codal formalities,” the order reads.

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