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J&K Finance Deptt authorises release of 100% funds

However, in respect of heads with expenditure level below 70 percent, funds are released up to the level of 85 percent of BE 2024-25 or as per re-worked RE 2024-25, whichever is less
11:34 PM Jan 29, 2025 IST | GK NEWS SERVICE
j k finance deptt authorises release of 100  funds
J&K Finance Deptt authorises release of 100% funds
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Jammu, Jan 29: The Finance Department Wednesday authorised the further release of funds under the revenue budget, out of Budget Estimates (BE) 2024-25, in favour of all the departments for the current financial year.

Authorisation has been conveyed for further release of funds to the extent of 100 percent of BE 2024-25 or as per re-worked Revised Estimates (RE) 2024-25 whichever is less, in respect of all detailed heads including “Salary” and like heads where the expenditure against the released funds is 70 percent or above.

However, in respect of heads with expenditure level below 70 percent, funds are released up to the level of 85 percent of BE 2024-25 or as per re-worked RE 2024-25, whichever is less.

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“Funds under detailed heads viz., 002-TE, 006-telephone, 007-0E, 014-POL, 022-camps, seminars and Conference, 029-hospitality and sumptuary allowance and 089- advertisement and publicity, are released up to 90 percent of BE 2024-25 or as per re-worked RE 2024-25 whichever is less in terms of austerity measures, where the expenditure level is more than 55 percent against the funds released so far, and where the expenditure level is below 55 percent in respect of these heads, further funds of 10 percent are authorized to the extent of 85 percent  in aggregate,” Joint Director Budget, Finance Department has directed.

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Besides, 100 percent funds have been authorized in respect of heads involving contra-credit like “Electricity charges” or any other due head as per BE 2024-25 or re-worked RE 2024-25 whichever is less.

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In case of heads viz., LTC; purchase of vehicle; furniture and furnishings; interest; purchase of power; cost price of food grains; snow clearance; UT share under revenue component and Disaster Response Fund (DRF), the release of funds will be considered on case to case basis, based on the proposal furnished by the departments.

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“The utilisation of funds so authorised will, however, be subject to specified conditions as stipulated vide Government Order No 268-F of 2024 dated August 16, 2024 and strict adherence of austerity and economy measures imposed vide Government Order No.10-F of 2025 January 11, 2025,” it has been instructed.

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