Jammu, Jul 31 (KNO): In a significant move to regulate the release of balance budgetary allocations and expenditure during the last quarter of the financial year 2026‑27, the Jammu & Kashmir Government on Friday ordered that balance allocation for any work will be released only after at least 80 percent of the funds already sanctioned have been utilized.
In a circular, a copy of which is in possession of news agency—Kashmir News Observer (KNO), the Finance Department directed that balance allocation for any work shall be released only after at least 80 percent of the funds already released have been utilized, as reflected in BEAMS and Treasury accounts.
As per the circular, Administrative Departments must submit proposals for release immediately upon achieving the prescribed utilization.
The circular further states that for works included in the Annual Action Plan (AAP) 2026‑27 that are completed, departments may seek release of the remaining funds up to 100 percent of the approved provision.
“Notwithstanding the above, where any work included in the Annual Action Plan (AAP) 2026‑27 and uploaded on BEAMS has been completed and requires release of the balance allocation (up to 100 percent of the approved provision), the concerned Administrative Department/Executing Agency shall submit a specific requisition to the Finance Department. On verification, the Finance Department shall release the balance funds, subject to the condition that the corresponding bills shall be presented to the Treasury within 15 days from the date of such release. Failure to adhere to the prescribed timeline shall render the release liable to withdrawal by the Finance Department, and any further release, if required, shall be subject to fresh consideration by the Finance Department,” the circular reads.
Departments have been directed to continuously monitor the pace of expenditure and ensure timely execution of works to avoid delays in the release of funds.
It further states that expenditure during the last quarter (January–March 2027) shall not exceed 25 percent of the Budget Estimates 2026‑27 under each object head/work, except with the prior approval of the Finance Department in cases of unavoidable contractual, statutory, or court‑mandated liabilities—(KNO)