CM Omar pushes for fiscal progress in J&K

Srinagar, Oct 28: Chief Minister Omar Abdullah on Monday pushed for fiscal progress of Jammu and Kashmir and sought to minimise central support.

Chairing a meeting at the civil secretariat here to review the functioning and progress of the Finance Department, the CM appreciated the focus on Centrally Sponsored Schemes (CSSs) and improved revenue realisation while noting that the receipt of CSS funds from Gol under different CSS during the current year is Rs 10,300 crore compared to Rs 6386 crore and Rs 5997 crore during 2022-23 and 2021-22.

He emphasised that increased harnessing of CSS should be the priority given the favourable sharing pattern. “This should be ensured by close monitoring by the Administrative Secretaries and HoDs, stepping up execution speed, and timely release of the central and UT shares,” the CM said.

He also stressed the need for Administrative Departments to follow up on issues pertaining to CSS with the respective central ministries.

The CM noted the measures to constrain non-priority expenditure and increase tax revenue to create space for higher capital expenditure.

He stressed the need to expedite capital expenditure by all the departments.

The CM noted that the departments need to achieve revenue realisation against the targets.

He advised the Finance Department to release UT share on priority.

Although GST collections have improved, he said that there was scope for further improvement to achieve the targets fixed.

The CM commended that the government was on the right path of development and focusing on maintaining prudence in financial management.

He stressed that the government should develop a coordinated system to ensure that the minimum prescribed procurement from local SHGs and MSMEs on the GEM portal.

The CM noted that all autonomous bodies and universities should develop a robust monitoring system to ensure judicious utilisation of grants in aid, improve internal resources, and avail external grants from different central agencies.

He stressed that all the Administrative Secretaries should review the working of their departments so that better amenities are provided to the people.

The CM urged the Finance Department to make steadfast progress on the fiscal reforms and pursue additional funding with the central government.

He asked the department to focus on improving revenue generation and restraining revenue expenditure.

The meeting was attended by Advisor to Chief Minister, Nasir Aslam Wani; Chief Secretary, Atal Dulloo; Additional Chief Secretary to CM, Dheeraj Gupta; Principal Secretary Finance and the heads of various divisions of the Finance Department.

Principal Secretary Finance Department made a detailed presentation highlighting the budgetary trends, fiscal challenges and ongoing reforms.