Ahead of schedule
21/08/2018
The Government has decided to release 100 per cent budget to all Departments and District Development Commissioners well ahead of schedule to ensure that ongoing developmental works are not delayed and more works could be taken up for the current financial year at the earliest. 50 per cent budget has already been released to all Departments and the District Development Commissioners while rest of the budget would be released in the next few days, well ahead of the schedule to facilitate timely completion of the ongoing developmental works. Government has issued the directions that entire 100 per cent budget during the current financial year should be released by August-September instead of delaying it to December-January to ensure that developmental works undertaken through the District Development Boards (DDBs) and other means didn't suffer for want of funds and are well executed in time to avoid cost overrun. They pointed out that in view of Budget Estimation Allocation Management System (BEAMS), the release of 50 per cent budget to all Government Departments and District Development Commissioners was delayed to May-June as newly developed software took time in transfer of money.
Last year, 25 per cent budget was released during first quarter, another 25 per cent in the second quarter, 20 per cent during third quarter and 30 per cent in the last quarter. However, this year, the budget would be released well ahead of the schedule to facilitate all Government Departments and the District Development Commissioners to give pace to the developmental works and ensure that they were not delayed for want of funds.
The Planning Development and Monitoring Department has to mandatorily upload department-wise ‘Name of the Schemes/ Works/ Projects, forming part of the Capex budget for the fiscal years of 2018-19, or, as per the format notified from time to time along with respective allocations on its website. The fiscal reforms introduced over the past three years were aimed at bringing stabilization in the State's economy and reduce volatility for economic revival through enhanced investments, public expenditure and widening the net of socio-economic security.
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