BREAKING NEWS

SRINAGAR — In a major development, the Jammu and Kashmir Government on Saturday ordered an audit of all the unspent balances under Centrally-sponsored schemes and Finance Commission grants.

The Finance Department today directed the Director General Audit and Inspection to conduct scheme-wise/component-wise audit of all the unspent balances under CSSs and FC grants lying with the Departments.

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The DG Audit and Inspections has been directed to submit the report to the Finance Department by March 15, 2020, reads an order issued by the Finance Department.

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As per the order, the departments shall come up with proposals for the revalidation of CSSs and FC grants after justifying reasons for the non-utilisation of funds.

The department would also have to come up with timelines for the utilisation of unspent balances.

The move comes after the government observed that despite timely authorization by the Finance Department, the executing agencies are not able to utilize the funds fully for the purpose for which these are sanctioned.

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These funds remain unutilized for most of the time and at times for several years together, eventually, departments come up with proposals for revalidation of these funds that too at their leisure in the last quarter/month of the financial year.

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