Govt facilitates seamless processing of infrastructure payments for FY 2024-25

Wajahat Shabir. Updated: 4/3/2024 12:09:22 AM Front Page

Emphasis on prudent financial management to address outstanding liabilities and boost infrastructure development

SRINAGAR: Amidst a push for rapid infrastructure development, the Union Territory (UT) Government of Jammu & Kashmir unveils measures to streamline payment processing for infrastructure projects in the fiscal year 2024-25.
With a focus on enhancing capital expenditure and optimizing centrally sponsored schemes funds, the government aims to ensure efficient financial management while addressing outstanding liabilities from the previous fiscal year.
The Finance Department has issued a circular in this regard.
The UT Government has consistently endeavoured to expand capital investments for rapid infrastructure upgradation in Jammu & Kashmir. During the financial year ending 31.03.2024, capital expenditure has been stepped up in several key sectors, like Road Connectivity, Power Development, Tourism, Industry, Education, Health and Medical Education, Water Supply, etc, it reads.
Simultaneously, the UT government has undertaken several measures to constrain non-priority revenue expenditure. The increased tax revenue, constrained revenue expenditure and enhanced central support have enabled higher capital expenditure. As per the provisional data, the capital expenditure has increased from Rs. 14,666 crore in financial year 2022-23 to Rs. 22,400 crore in 2023-24, it added.
During this financial year, all the Departments of the UT Government have improved the utilization of funds under centrally sponsored schemes (CSS). This has ensured much larger receipts of CSS funds, which have crossed Rs. 10,300 crore in 2023-24 as compared to Rs. 6386 crore and Rs. 5997 crore during the financial years 2022-23 and 2021-22 respectively. The improved execution of CSS and follow-up with the central Ministries has ensured a healthy account balance of over Rs. 3,600 crore in various state nodal accounts (SNA) of such CSS, it reads.
It added, “To ensure a structured pace of capital expenditure, the UT Government had ensured expenditure norms on incurring expenditure in final quarter and the last month of the financial year. It has come to notice that in the rush of investments in final days, some liabilities of capital works, stores, maintenance, etc. may have remained un-discharged due to such expenditure norms for prudent financial management”.
The contracting and supplying agencies who have contributed to infrastructure development and utility services shouldn't face difficulties in processing their valid dues in the financial year 2024-25. The UT Government is committed to ensuring that all the duly incurred liabilities of the Government are discharged in time bound manner, it added.
Hence it is clarified that as per Rule 57 (2) of GFR — 2017, a grant or appropriation can be utilized to cover the charges (including liabilities, if any, of the past year) which are to be paid during the financial year of the grant and adjusted in the account of the year, it reads.
Adding that it said to expedite the processing of such liabilities in a seamless manner, Fresh bills in lieu of unpaid bills shall be prepared by the concerned DDOs in PaySys and submitted to the concerned Treasury. The reference number of unpaid bills shall be referred in the fresh bill prepared by the DDO. Such bills (both Capex / Revenue) shall, after fulfilment of necessary codal requirements by the respective DDOs, be entertained by the concerned Treasury Officers for payment by debit to the budget allocations of the current financial year 2024-25 provided:-
The bills were within the allocated budget of the concerned DDO for 2023-24 and were not paid during that fiscal due to the expenditure norms for the final quarter and final month. That the works formed part of the approved action plan/works programmes of the departments/offices for 2023-24.
That all the required codal formalities as per the GFRs (technical sanction, administrative approval, due process for allotment, etc.) have been fulfilled before incurring the expenditure. Documentary evidence, wherever required, shall be appended with the individual claims.
The total amount of claims preferred by individual DDO under a head of account should not exceed the amount of budget allocated to the DDO in 2023-24 under that head of account, the above points shall be verified and certified by the concerned DDO on the face of the new bill.
Treasury officers shall verify the bills before releasing payment and tally the amount of the bill with the unpaid bill. They will ensure that all codal formalities have been completed and financial propriety is followed as per GFRs.

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