STATE TIMES NEWS
JAMMU: To ensure fiscal discipline and enhance economic efficiency during the current financial year 2024-25, the Jammu and Kashmir Government has sanctioned the rationalization of expenditures.
The new guidelines aim to implement austerity measures across various departments and sectors. The highlights of the expenditure rationalization include a reduction in revenue expenditure, limiting spending to 30% of the budget allocation in the last quarter of the fiscal year, with a 15% cap in March.
Payments will only be made for executed works and procured goods and services, with no advance payments allowed unless it involves government loans or disaster relief. A 10% economy cut has been imposed on budgets for operational expenses, telephone, advertisements, hospitality, and sumptuary activities.
The government has emphasized strict economy measures for organizing seminars, conferences, and workshops, with a strong discouragement of holding such events outside J&K and at private venues.
The purchase of new vehicles is strictly discouraged unless for critical operational needs, and only economy class travel will be permitted for officers within the country. International travel will require specific approval from the Finance Department. Additionally, no new furniture will be purchased unless for newly established offices, and no new posts will be created. Filling of vacant posts will only be allowed through authorized channels such as JKSSB or JKPSC and with concurrence from the Finance Department.
Local fund utilization will also fall under the ambit of these austerity measures. The government has directed all departments to strictly adhere to the General Financial Rules (GFRs), CVC guidelines, and other relevant instructions to ensure proper governance and prevent wastage of resources.
These measures are aimed at ensuring a balanced and responsible approach to expenditure, particularly in non-priority sectors, to safeguard the efficient use of government funds and contribute to the state’s overall fiscal health. The compliance of these measures will be overseen by administrative secretaries and financial advisors, with regular reports submitted to the Finance Department.