J&K govt orders audit of all unspent balances under centrally sponsored schemes and FC grants

Come up with proposals for revalidation after justifying non-utilisation of funds:Finance department

Srinagar, Feb 29 : In a major development, the Jammu and Kashmir government on Saturday ordered audit of all the unspent balances under centrally sponsored schemes and Finance Commission grants.

According to Wire service — Kashmir News Observer (KNO), the Finance department today directed director general Audit & Inspection to conduct scheme -wise/ component- wise audit of all the unspent balances under CSSs and FC Grants lying with the Departments.

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

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

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

The move comes after 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.

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 financail year.