SRINAGAR: The Jammu and Kashmir Finance Department has issued fresh guidelines to regulate the release of balance budgetary allocations and expenditure during the last quarter of the 2026-27 financial year, aiming to ensure timely execution of works, better utilisation of public funds and prevent the year-end rush in spending.
According to a circular issued by the Finance Department, the balance allocation for any work will be released only after at least 80 per cent of the funds already sanctioned for that work have been utilised, as reflected on the BEAMS portal and Treasury accounts. Administrative departments have been directed to submit proposals for the release of the remaining funds immediately after achieving the prescribed utilisation level instead of waiting for expenditure under other projects.
The circular, however, provides an exception for projects included in the Annual Action Plan (AAP) 2026-27 that have already been completed and require release of the remaining allocation. In such cases, the concerned department or executing agency can seek release of up to 100 per cent of the approved provision by submitting a specific requisition to the Finance Department. The released funds must be utilised and the corresponding bills presented to the Treasury within 15 days, failing which the allocation may be withdrawn and any future release will require fresh approval.
The Finance Department has also instructed all departments to closely monitor the pace of expenditure to avoid delays in project implementation and fund utilisation. It further reiterated that expenditure during the final quarter of the financial year, from January to March 2027, should not exceed 25 per cent of the Budget Estimates under each object head or work unless prior approval is obtained from the Finance Department in cases involving unavoidable contractual, statutory or court-mandated liabilities.
The circular, issued by Financial Commissioner (Additional Chief Secretary) Shailendra Kumar, takes immediate effect and is to be read alongside the existing financial management instructions issued by the Finance Department.
