Jammu: All Public Sector Undertakings (PSUs) in J&K have been asked to observe fiscal discipline and austerity measures. In this connection, all the Administrative departments have been asked to direct the Public Sector Undertakings working under their administrative control to follow the austerity guidelines in letter and spirit.
As per the guidelines and measures suggested for fiscal prudence for PSUS, release of grant-in-aid will be strictly as per provisions contained in GFRs and government instructions. Departments will not transfer funds under any schemes in relaxation of conditions attached to such transfers.
As per extant instructions, not more than 30 percent of the Budget Estimates may be spent in the last quarter of the financial year. It has been emphasized here that the restriction of 30 percent and 15 percent expenditure ceiling is to be enforced both scheme-wise as well as for the demands for grant as a whole, subject to RE ceilings.
In the last month of the year payments will be made only for the goods and services actually procured and for reimbursement of expenditure already incurred.
Rush of expenditure on procurement should be avoided during the last quarter of the fiscal year and in particular the last month of the year so as to ensure that all procedures are complied with and there is no infructuous or wasteful expenditure, it has been cautioned.
No fresh financial commitments should be made on items which are not provided for in the budget approved by the Parliament.
Utmost economy should be observed in organizing conferences, seminars or workshops. Only such conferences, workshops, seminars which are absolutely essential, should be held.
There will be a ban on holding of meetings and conferences at five star hotels; on purchase of other vehicles (including staff cars) except against condemnation or replacement.
Travel expenditure (both Domestic Travel Expenses (DTE) and Foreign Travel Expenses (FTE)) should be regulated.
There will be a ban on creation of posts and the posts that have remained vacant for more than two years are not to be revived except under very rare and unavoidable circumstances and after seeking clearance from the Department of Finance, it has been instructed.