Early Times Report
Jammu, Jan 15: To check misuse of funds during the last quarter of the current financial year, the government on Monday announced some austerity measures.
According to an order issued by the General Administration Department sanction accorded to the rationalization of expenditure for fiscal prudence and economy during the current financial year with immediate effect.
As per the guidelines during the last quarter of the current financial year the revenue expenditure should be limited to 30 percent of revised budget allocation and in the month of March, the expenditure should be limited to 15% of such allocation.
In the last month of the current financial year, payments may be made only for the works duly executed, and the goods and services already procured During the last quarter of the current financial year the revenue expenditure should be limited to 30% of revised budget allocation.
In the month of March, the expenditure should be limited to 15% of such allocation.
Payments may be made only for the works duly executed, and the goods and services already procured.
Hence, no amount should be released in advance in the last month except the loans or advances to government servants as per service conditions or on compassionate grounds or to disaster victims as a measure of relief and rehabilitation.
“Rush of expenditure on the procurement of goods and services should be avoided during the last month of the current financial year to ensure that codal procedures are complied with and there is no infructuous expenditure”, the order reads as.
Furthermore, the Director of Finance and Financial Advisor are advised to specially monitor this aspect in their respective departments.
“Ten percent of economy cut is imposed on the budget allocation for OE, LTC, telephone, POL, travel, advertisements, publicity, hospitality and sumptuary activities. | 