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JK govt directs departments to submit reconciled accounts of up to Oct 30 by Nov 6 9/5/2019 11:15:40 PM Early Times Report SRINAGAR, Sept 5: The Jammu and Kashmir government has directed all departments to submit by November 6 reconciled accounts of up to October 30 to the finance department as Public Account of the Union Territory of Jammu and Kashmir will replace the Public Account of the state. The directions were given by Financial Commissioner, Finance Department, A K Mehta in an order issued on Wednesday. "All the Departments shall reconcile accounts of their respective departments before the appointed day (October 31, 2019) with the office of the Accountant General, J&K enabling to close the accounts of the State Government. "On and from the appointed day, the accounts of the Union Territory of Jammu and Kashmir shall be kept in such form as the Lieutenant Governor may, after obtaining advice of the Comptroller and Auditor General of India, prescribe by rules," the order reads. The reconciled accounts up to 30 October 2019 shall be furnished by each Department to the Finance Department not later than 6 November 2019, it added. "In terms of Section 67 (1) of Jammu and Kashmir Reorganisation Act, 2019, it is hereby ordered that there shall be the ''Consolidated Fund of the Union Territory of Jammu and Kashmir'' successor to the Consolidated Fund of the State of Jammu and Kashmir," the order read. On and from October 31, 2019, all revenues received in the Union Territory (UT) of Jammu and Kashmir by the Government of lndia or the Lieutenant Governor of the UT in relation to any matter with respect to which the Legislative Assembly of the UT has power to make laws, and all grants made and loans advanced to the UT from the Consolidated Fund of lndia and all loans raised by the Government of lndia or the Lieutenant Governor of the UT upon the security of the Consolidated Fund of the UT and all moneys received by the UT in repayment of loans shall form one Consolidated Fund to be entitled as the Consolidated Fund of the Union Territory of Jammu and Kashmir. The order said the custody of public moneys, other than those credited to the Consolidated Fund of the Union Territory, or Contingency Fund of the UT of Jammu and Kashmir, received by or on behalf of Lieutenant Governor, their payment into the Public Account of the Union Territory of Jammu and Kashmir and the withdrawal of moneys from such account and all other matters connected with or ancillary to aforesaid matters shall be regulated by the Lieutenant Governor on the advice of Council of Ministers.   Share This News with Your Friends on Social Network     Comment on this Story

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