SRINAGAR: The State administration on Thursday ordered that separate budgets of J&K, Ladakh UT will be prepared by October 14 for next five months beginning November 1.
The state Finance Department has asked all the administrative secretaries to segregate the budget into two parts – state budget up to October 31 and beyond that for the Union Territories. The budget will be prepared by October 14.
According to a circular issued by the Finance Department, the budget for the current financial year (2019-20) has to be segregated in two parts – seven months from April 1, 2019, to October 31, 2019, as the state of J&K and for five months from November 1, 2019, to March 31, 2020, as UTs of J&K and Ladakh.
Accordingly, the administrative secretaries have been asked to furnish the segregated budget as per set format by tomorrow (Friday) positively, besides furnishing the budget proposals on the Budget Estimation, Allocation & Monitoring System (BEAMS) portal.
The circular reads, “All the administrative secretaries are further requested that the matter shall be attended on topmost priority. Meeting with the departments shall be held tomorrow to finalise their proposal.”
The BJP-led Central government on August 5 abrogated the Article 370 and bifurcated the state of J&K into two Union Territories – J&K and Ladakh.
Last year, the annual budget for 2019-20 was passed on Dec 15 which was to the tune of Rs 88,911 crore.
This year after bifurcation of the State into two UTs, the administration on August 20 constituted three separate committees for devising modalities for functioning of the proposed UTs besides dealing with financial matters and staff issues. It also framed a six-member committee, headed by Principal Secretary, Home, Shalin Kabra to suggest measures to be taken for providing staff to the proposed UT of Ladakh.
J&K had projected to spend a whopping Rs 88,911 crore in the fiscal starting April 1, 2019, and two-thirds of it was revenue expenditure spent on implementing developmental activities valuing slightly less than one-third of the total budget.
As per the reports, the SAC would give nod to the budgetary proposals for the next financial year of 2020-21 owing to absence of Assembly.
