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| Following nod from PC, Govt gears up budgetary preparationsvv | | | Jammu, Nov 10
Following a nod from the government of India to hold early annual budget session, Jammu and Kashmir state finance and planning department has geared up its preparations for the proposed budget.
As per the well informed sources in the civil secretariat Director Budgets Ravi Mangotra has been asked to gear up the preparations for formulating the annual budget. “The Director has been asked to complete all the necessary exercise by the middle December so that the annual budget can be given a final shape well before January 2007, when it has to be presented before the state legislature, highly placed sources said.
It was reliably learnt that the director has formulated his schedule for holding budgetary meetings with the heads of various state government departments. “He has already held meetings with two departments, while others would meet him in the next coming days”, added the sources.
It is pertinent to mention here that the budget session of the Jammu and Kashmir legislature will be held for the first time in the month of January. The proposal formulated on the instructions of the state chief minister Ghulam Nabi Azad got final nod in a recently held meeting with Planning Commission officials in New Delhi.
As per the reports, beside saving the important time of the official machinery and proper utilization of funds, the early budget session was also important because of the creation of eight new districts, which will become operational from February next year.
As a routine practice in Jammu and Kashmir the budget used to be finalised by April, which as per the government takes at least two months of the working period and allotment of funds took another two to three months.
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