(MENAFN- Kashmir Observer) Srinagar- Jammu and Kashmir Finance department has authorized the further release of funds under the Revenue Budget for the financial Year 2024-25.
The authorization follows government Order No. 268-F of 2024, dated August 16, 2024, and an earlier order issued on January 9, 2024.
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According to the order, the funds have been released to the extent of 100% of the Budget Estimates (BE) 2024-25 or as per the reworked Revised Estimates (RE) 2024-25, whichever is lower.
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This applies to all detailed heads, including“Salary” and similar expenditure categories, where at least 70% of the released funds have already been utilised.
For detailed heads where expenditure is below 70%, the funds have been released up to 85% of BE 2024-25 or as per reworked RE 2024-25, whichever is lower.
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Additionally, the specific expenditure categories such as travel expenses (TE), telephone charges, office expenses, fuel (POL), camps, seminars, hospitality allowances, and advertisement & publicity have been allocated up to 90% of BE 2024-25 or as per RE 2024-25, if the expenditure level exceeds 55% of previously released funds.
“If the expenditure in these heads is below 55%, further funds of 10% have been authorised, ensuring an aggregate release of up to 85%,” the order said.
“Full fund authorisation has been granted for detailed heads involving contra-credit, such as electricity charges, as per the BE 2024-25 or reworked RE 2024-25, whichever is lower,” the order said.
“Certain categories, including Leave Travel Concession (LTC), vehicle purchase, furniture procurement, interest payments, power purchases, food grain costs, snow clearance, UT Share under the Revenue component, and the Disaster Response Fund (DRF), will be considered for fund release on a case-by-case basis upon proposal submission by the respective departments,” it added.
“The utilization of the authorized funds will be subject to conditions outlined in Government Order No. 268-F of 2024 and adherence to austerity measures specified in Government Order No. 10-F of 2025, issued on January 11, 2025,” it added .
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