JK Finance Minister for Strict Budget Control, Fiscal Management Measures
Scoop News
January 07, 2012 Speaking at the periodic review meeting of the Directors of Finance/FA & CAOs held here today, Rather said as Financial experts, FA & CAOs are ambassadors of the Finance Department to give advice to various departments & controlling officers about financial matters to ensure judicious expenditure of Budget provisions. He said greater involvement and association of FA& CAOs with the formulation of budget proposals and schemes was all the more necessary as it helps in the formulation of a realistic budget and economically viable schemes.
The meeting was attended by the Principal Secretary Finance, M.I. Khandey, Accountant General, D.K. Bakshi, Director General Accounts & Treasuries, Wali Mohammad Bhat, Director General Budget Ravi Kumar Magotra, Directors of various Wings of Finance Department and Financial Advisors/Chief Accounts Officers.
Saying that the Directors of Finance/FA & CAO’s are the watch dogs of State exchequer, the Minister enjoined upon them to fulfill their legitimate duty towards managing the budget provisions and expenditures judiciously in their respective areas of jurisdiction.
He directed for maintaining budget control registers in various departments essentially adding that all sorts of financial irregularities and violation of financial code should be checked effectively. “Budget allocations should in no case exceed beyond the limit and no advance drawal allowed unless photocopy of the Red D.C. Account of previous advance drawal is obtained”, Rather said adding that main effort should be to clear all the accumulated /pending
“Accumulation of Red D.C. accounts should not be allowed at any cost as it adversely effects the finalization and correctness of state accounts. “ Rather observed and directed the officers to conduct reconciliation of expenditure and receipts regularly. He said performance of officers in this regard shall be reflected in their APRs.
Rather also directed the officers to ensure prompt action on audit reports, appropriation accounts and reports of PAC, Estimates Committee and Committee on Public undertakings. He directed that Action Taken Report (AIR) on draft paras should be submitted to Principal Accountant General within three months after C.A.G’s audit report is placed before the state legislature, without waiting for meeting of PAC and Public undertakings Committee. He also directed for conducting physical verification of stock in various stores adding that state money gets blocked if stocks are allowed to lie in stores for long period.
The D.G. Accounts & Treasuries in his opening remarks said that the allotment of budget & expenditure is watched by the 269 Controlling Officers all over the sate who allot funds to about 5503 Drawing & Disbursing Officers (DDO’s) operating upon 121 Treasuries of the State.
Tags: J&K Rather , Budget Control , Fiscal Management , Measures
