J&K's 102 Percent Growth In Capital Expenditure, Heartening: LG
(MENAFN- Kashmir Observer) Jammu- Lieutenant Governor Manoj Sinha chaired a review meeting on Budgetary Expenditure in the UT of Jammu Kashmir, at Civil Secretariat today.
The LG took appraisal of the department-wise progress achieved in the financial Year 2023-24 and called upon the officials for 100% utilization of funds available under Centrally Sponsored Schemes and Capex.
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It is heartening to see that capital expenditure has achieved 102 percent growth in 2023-24 as compared to 2018-19.“We have also registered an impressive increase in Excise and other Tax & non-tax Revenue. These are the indicators of a streamlined financial prudence system in place in the Union Territory,” he said
The LG further added that
J&K is touching greater heights today as the focus on massive infrastructure development is towards meeting the aspirations of people and building 'Atma-Nirbhar' J&K.
He asked the Administrative Secretaries and senior officials to ensure the timely submission of Utilization Certificates. The Lt Governor directed the departments to explore all possibilities to further improve revenue realization and follow the instructions of the administration to adhere to the austerity measures to cut the expenditure.
Read Also Low Crime Rate Has Made J&K Preferred Destination For Investors: LG LG Sinha Inaugurates 'JK Youth Conclave 2024' An integrated system should also be developed by all the departments for procurement of products from Self Help Groups and MSMEs, he said.
On the sidelines of the meeting, the Lt Governor directed the Administrative Secretaries and senior officials of the Disaster Management, Relief, Rehabilitation & Reconstruction Department and PWD (R&B) to closely monitor the progress on Transit accommodations for PM Package employees.
The meeting was attended by Atal Dulloo, Chief Secretary; Dheeraj Gupta, Additional Chief Secretary Forests; Santosh D Vaidya, Principal Secretary, Finance Department, Administrative Secretaries and senior officials.
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