Financial year in J&K extended to June 30

SRINAGAR:-(PTK) In view of the crisis over Covid19, J&K Finance Department has today decided to extend the current financial year ending March 31 to June 30.

In an order issued by the Finance Department, the financial year has been extended under SRO-128, substituting the words and figures of March 31, 2020 by June 30, 2020.

The Finance Department also ordered authorization of 50 percent funds under Capex Budget for 2020-21.

As per the order, the Finance Department approved and authorized 50 percent funds under Revenue Component (Capex Budget) through BEAMS portal. It also instructed administrative secretaries to furnish the activity and project wise details for utilization of funds.

The Director Finance and Planning, Financial Advisors, Chief Account Officers, Joint Directors and Administrative Secretaries would be personally responsible for furnishing the details as per format through e-mail.