Jammu: J&K Finance Department has conveyed its authorisation to the release of 25 percent funds through BEAMS aggregating to 100 percent of DDC, BDC and PRI grants out of District Capex.
The department has also eased the expenditure restrictions of 15 percent during March 2023 and 30 percent during the last quarter of the current Financial Year for works executed under these grants.
“In continuation to Government Order No.100-F of 2022 dated March 31, 2022; O M No. FD-BDGTOGEN/10/2022-03-(164239) dated December 12, 2022 and O M No.FD-BDGT0GEN/21/2021-03-FD-(46316) dated January 27, 2023 and subsequent authorization of funds from time to time, Finance Department conveys authorization to the release of further funds to the extent of 25 percent through BEAMS (Budget, Estimation, Allocation & Monitoring Systems) aggregating to 100 percent in respect of DDC, BDC and PRI grants out of approved Budget Estimates (BE) 2022-23 or as per revised figures under Revised Estimates (RE)-2-22-23, whichever is less, in respect of all the works or activities under DDC, BDC and PRI grants of District Capex,” read a notification of the Finance Department.
Besides, the Finance Department also conveyed relaxation to the expenditure restriction of 15 percent during the month of March, 2023 and 30 percent during the last quarter of current Financial Year (FY) 2022-23 for works executed within these grants.
“However, the utilization of funds shall, however, be subject to other conditions as stipulated vide Government Order No.100-F of 2022 dated March 31,2022,” the notification added.