Srinagar, July 22: The Jammu and Kashmir Government has prescribed strict timelines for the release of funds and processing of bills to improve financial management and ensure timely execution of development works.
According to an order issued by the Finance Department, Capital Expenditure (CAPEX) funds must be released within 10 days, while funds under Centrally Sponsored Schemes (CSS) are to be released within 48 hours.
The order also mandates that requests for advance drawal be processed within five working days.
Further, bills under the SNA-SPARSH system are to be processed within two working days, aimed at expediting payments and enhancing transparency in fund utilisation.
The Finance Department said the timelines are intended to streamline the flow of funds, reduce delays in payments, and improve the efficiency of financial operations across government departments.
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