In a bid to have a paperless budget from next year, the Jammu Kashmir government has decided to adopt Budget Estimation Allocation Management System (BEAMS) in the state which will "ensure better cash management and monitoring system".
"The government will adopt Budget Estimation Allocation Management System (BEAMS), being developed by National Informatics Centre (NIC), for the preparation of future budget," Minister for Finance Haseeb A Drabu said.
Drabu, who discussed the modalities for implementing the new system at a meeting here, stressed the need for adopting BEAMS and said it will be the first major step towards having paperless budget.
"It will help in bringing better cash management, financial reporting and monitoring system," he added.
He further said mis-classification will also be eliminated with the system ensuring minimisation of human error.
Drabu said this application is web-based and connected with the centralised database. Its implementation will also generate customised Management Information System (MIS).
The minister impressed upon the officers to initiate reforms for restructuring the Finance Department so that the delays in release of money are minimised and financial accounts get streamlined. PTI