J&K Finance Minister said efficient financial management vital for economic progress

by Vijay Kumar November 24, 2009

Jammu, November 24(Vijay Kumar) – J&K Minister for Finance and Ladakh Affairs,Abdul Rahim Rather said officers of the department should act as pillars of good governance for maintaining financial discipline, terming efficient financial management vital for economic progress of the state.

Chairing a high level meeting of the Directors of Finance and Chief Account Officers here this evening,Underscoring the need for better financial management,Abdul Rahim Rather has exhorted upon functionaries of the finance department to improve their working and discharge duties with dedication and missionary zeal for best utilization of every rupee spent for public works and services

He said that purpose of expanding the department in 1988 was to make it more vibrant by decentralizing financial powers and strengthening its management. Over the years some dilution has occurred which needs to be rectified through regular reviews and monitoring, he maintained. “Had the officers taken the guidelines seriously, audit paras would not have been often reported by the Principal Accountant General’s Office,” he observed.

Expressing displeasure over the execution of works without administrative approval, technical sanctions, formal allocation of funds and fulfillment of codal formalities, the Minister said that there would be zero tolerance for these lapses. He stressed upon the officers to ensure that physical verification is done within the 1st quarter each financial year so that recovery of shortage, if any, noticed could be redressed at the earliest. The Minister said that the incomplete accounts and non-rendition of Red accounts adversely affect the compilation of the State accounts as reported by Principal Accountant General’s office.

Appreciating the guidance of Principal Accountant General’s office, Mr. Rather said that lapses could be redressed if the intention of the officer is good and discharges his duties in a responsible manner. The provision of advance drawls is an extraordinary provision which should be used in a prudent manner, the Minister maintained.

Speaking on the occasion, Commissioner/Secretary, Finance, Sudhanshu Panday extended his gratitude to Principal Accountant General’s office for attending the meeting first of its kind in the State and extending full cooperation. He said that the review meetings should be made a regular feature and held quarterly to ascertain functioning of the department. He asked the officers to perform their duties with sincerity adding that they are the financial experts in various departments for working out implications.

Principal Accountant General, J&K D. J. Bhadra in his address eulogized the Minister for providing exemplary leadership to the Finance department and said that under his stewardship the financial discipline has improved and the functioning of the department substantially stabilized. He further assured that his office would extend every support to the Finance Ministry in financial matters.

Director General Accounts & Treasuries, Mr. Wali Mohammad Batt earlier in his welcome address elaborated over the activities undertaken by the department for making its functioning transparent. He said that the FA/CAOs posted in various departments have multifarious duties and they have to ensure financial discipline in their respective departments. He assured the Minister that the orders and guidelines would be adhered to in letter and spirit.

Among others, the meeting was attended by Director General Budget, Ravi Mangotra, Director Resources, Director Finance, Director Codes and FA/CEOs of various departments.

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