Finance Department releases Revenue Component for 2020-21

Finance Department releases Revenue Component for 2020-21
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Finance Department has accorded sanction to the release of funds under 'Revenue Component' for the year 2020-21 after relaxing expenditure restrictions which were imposed in view of COVID-19 pandemic situation in J&K

Financial Commissioner, Finance Department, Dr Arun Kumar Mehta has issued authorization for the release of further funds under Revenue Component for the financial year 2020-21 and relaxation to expenditure restriction imposed in view of covid-19 pandemic.

Mehta has accorded sanction to the release of the expenditure restrictions imposed in view of covid-19 pandemic vide circular number F-VII-Gen (110) 2009-10-II dated 29-04-2020 followed by the circular number FD-VII-Gen (110) 2009-10-II dated 09-07-2020. However, the expenditures guidelines shall now be followed.

"All the detailed heads expect 003 Leave Travel Concession (LTC), 046-purchase of vehicles, 054-furnishings, 104-land compensation, 311-cost price of food grains and 411-refund of GST which shall be dealt on case-to-case basis i.e., 90 % of BE 2020-21. Besides, 028-grant-in-aid to ULB/autonomous institutions/universities etc., 75 % of BE 2020-21," reads the sanction order of Financial Commissioner, Finance Department, Dr Arun Kumar Mehta.

"There shall be no restrictions on the extent of expenditure. However, expenditure shall be restricted to the extent of funds authorized by the Finance Department," reads the order.

It reads that the Leave Travel Concession (LTC) expenditure shall not be made without the prior consent of the Finance Department, and transport allowances shall not be drawn in respect of employees who have not attended the office during the covid-19 pandemic. But, the sanction is subject to further conditions as laid down in the BEAMS release.

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