The Minister for Finance, Dr Haseeb Drabu today said that several pioneering measures have been proposed in the Budget 2017-18 for fine-tuning the expenditure management and monitoring system and these initiatives would go a long way in bringing transparency, accountability and efficiency in allocation and utilization of funds across various sectors and activities. Winding up the discussion on Budget 2017-18 in the Legislative Council, the Finance Minister said to monitor the expenditure, the Government has introduced a computerized budgeting system known as “Budget Estimation, Allocation and Monitoring System (BEAMS)”. He said BEAMS is an online computerized system to share out the Budget allocation and to authorize expenditure.The proposed new Public Management System is designed for greater flexibility of inputs and processes in return for greater emphasis on outputs and performance, the Finance Minister said.He said the Budget 2017-18 also proposes to move away from the old system of Treasuries to Pay and Accounts Offices (PAO). Computerized Integrated Financial Management System (IFMS) will also replace the present system of budget control mechanism of audit and invoice checking at the department level, the Minister said adding that this would help in making payments faster and in a transparent manner.Enumerating on the main proposals of the budget, Dr Drabu said an effort has been made to streamline and speed up spending of Government resources for which a timeframe has been set for release of funds. In order to lower the expenditure during the last quarter of the fiscal year, it is proposed in the budget that from the next fiscal, last quarter expenditure should be limited to 30 percent of budget allocation and further in the month of March, the expenditure should be limited to 15 percent of the Budget Estimates.
"We have improved the working seasons from 4 months to 9 months by releasing 50 percent of revenue and CAPEX Budget by February 10, 2017 authorizing expenditure to be made from April 1, 2017", he said.Dr Drabu hoped the pre-ponement of the funds released would facilitate timely execution of development works in the State which often get delayed due to late fund release.To provide relief to the employees engaged under various centrally sponsored schemes, the Government has decided to release their salaries without any gap by delinking the salaries from the source of funding and from April 2018, the Government will ensure time release of their salary, the Minister said.Responding to the issue raised by legislators, the Finance Minister said that Government being the promoter of JK Bank has decided for making an equity infusion of Rs 532 crore for maintaining its required capital adequacy and financing new asset growth without impairing the autonomy of the bank.Dr Drabu said the effort has been made to clear all past liabilities and provision has been made to ensure check on over-cost liabilities."DPR based system is being proposed in the Budget 2017-18 in which only such projects will be sanctioned which will be backed by proper project reports", the Finance Minister said.The Finance Minister assured the house that guidelines and scope for making expenditure under CDF will be enlarged and strengthened with subsequent notification having effect from April 1, 2017.Earlier, several legislators participated in the General discussion on Budget 2017-18. They include Naresh Kumar Gupta, Surinder Ambardar, Bashir Ahmad Shah Veeri, Saif-ud-Din Bhat, Ghulam Nabi Monga and Firdous Tak.