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| Govt tightens purse strings, caps last-quarter spending at 25% | | | Mahim Gupta
Early Times Report
JAMMU, July 31: In a move aimed at ensuring better financial discipline, timely execution of development works and preventing a year-end rush in expenditure, the Jammu and Kashmir Government has issued fresh guidelines regulating the release of the remaining budgetary allocations during the 2026-27 financial year.
According to a circular issued by the Finance Department, the balance allocation for any development work will be released only after at least 80 per cent of the funds already released have been utilised, as reflected on the BEAMS portal and Treasury accounts.
The Finance Department has directed all Administrative Departments to submit proposals for the release of the remaining allocation immediately after achieving the prescribed utilisation level, instead of waiting for expenditure under other works.
The circular, issued by Financial Commissioner (Additional Chief Secretary), Finance Department, Shailendra Kumar, also provides relief for completed projects. It states that where any work included in the Annual Action Plan (AAP) 2026-27 and uploaded on the BEAMS portal has been completed, the concerned department or executing agency may seek release of the remaining allocation, up to 100 per cent of the approved provision.
However, the Finance Department clarified that such requests will be processed only after verification, and the corresponding bills must be submitted to the Treasury within 15 days of the release of funds. Failure to meet this deadline will make the release liable to withdrawal, while any subsequent request for funds will require fresh consideration by the Finance Department.
To ensure uninterrupted execution of projects, departments have been instructed to continuously monitor expenditure and expedite the implementation of works so that delays in fund release are avoided.
The government has also imposed restrictions on spending during the final quarter of the financial year. The circular stipulates that expenditure between January and March 2027 shall not exceed 25 per cent of the Budget Estimates for 2026-27 under each object head or work, unless prior approval is obtained from the Finance Department in cases involving unavoidable contractual obligations, statutory liabilities or court-mandated payments.
The Finance Department said the instructions have come into immediate effect and are to be read in conjunction with the existing financial management guidelines, with the objective of improving budget utilisation, strengthening fiscal discipline and ensuring timely completion of government projects. |
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