Directs for improving revenue realization to minimize resource gap
SRINAGAR: Chief Secretary, Atal Dulloo, today chaired a meeting of Administrative heads of all the Departments to take stock of the budget expenditure made and the position of revenue receipts registered by each of the Departments till date.
Dulloo, during this meeting, impressed upon the administrative Departments to improve their capital expenditure without waiting for onset of last quarter of the financial year. He asked for maintaining the pace so as to make best use of the funds released to them by the Finance Department.
He also took this occasion to maintain that the UT is unable to access all of the available schemes in the central sector. He enjoined upon the Finance Department to map all the Centrally Sponsored Schemes (CSS) and central sector schemes so that the utility of each of them is assessed and funding availed under them.
The Chief Secretary also instructed for regular submission of Utilization Certificates (UCs) by the Departments with respect to expenditure of released funds under different CSS so that next tranches are released by the respective Ministries on time. He asked for availing whole designated amounts.
In his presentation, the Principal Secretary, Finance, Santosh D. Vaidya gave detailed overview of the fiscal improvements made by the UT over previous years. He also gave outline of the budget releases and expenditure along with that of CSS implemented by different departments.
It was given out in the meeting that several steps were taken by the administration during past fiscals to streamline the expenditure besides augmentation of resources in the UT.
It was revealed that the steps like improved GST return compliance, improved billing, e-stamping, excise auction, introduction of GeM, e-tendering, smart meters, aadhar seeding /verification of beneficiaries, improved fiscal discipline has led to substantial results.
Regarding this year’s budget status it was given out that Revenue Expenditure of Rs 36,678 Cr and Capital Expenditure of Rs 3,680 Cr has been registered during the ensuing financial year against the Revenue Receipts of Rs31277 Cr and Capital Receipts of Rs 9,081 Cr.
With respect to the CSS, the meeting was informed that CSS-Capex releases stands at Rs 1413 Cr and CSS-Revenue at Rs 1278 Cr against which an expenditure of Rs 1,203 Cr and Rs 1,238 Cr has been registered during this fiscal.
The meeting also took note of the major ongoing projects taken up here with the credit components extended by NABARD. It was added that these projects can access more funds once requisite progress is shown by the Departments to complete them on time.