Tag: Budget Allocation.

Jammu/Srinagar, January 9, 2025: The Finance Department of Jammu and Kashmir has authorized the release of additional funds under the Revenue Budget for the financial year 2024-25. The authorization has been issued through an official memorandum (O.M No. FD-BDGT0GEN/10/2022-03) dated January 9, 2025. According to the notification, funds will be released via the BEAMS system to the extent of 90% of the Budget Estimates (BE) for 2024-25 or as per reworked figures of Revised Estimates (RE) 2024-25, whichever is less. This release is applicable to specific expenditure heads, including: 001-Salary 017-Honorarium and Remuneration 079-Stipend and Scholarship 228-Diet Expenses 364-Wages (Outsourcing) 641-Pensionery Charges (NPS) 670-Leave Encashment The release is in continuation of Government Order No. 268-F of 2024, dated August 16, 2024, which outlines detailed conditions for fund utilization. The order, signed by Sharaat Yehya, Joint Director Budget, has been communicated to all Administrative Secretaries. Copies have also been sent to the Advocate General of J&K High Court, all Financial Commissioners (Additional Chief Secretaries), the Director General of Police, and the Principal Secretary to the Lieutenant Governor. The initiative ensures a streamlined release of funds, prioritizing key expenditure areas for efficient financial management across all departments in the Union Territory.

Tag: Budget Allocation.

J&K Finance Department Authorizes Release of Funds under Revenue Budget for FY 2024-25

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