JAMMU: The State Administrative Council (SAC), which met here today under the chairmanship of Governor N.N. Vohra, approved the On Account Appropriation for a period of three months beginning April, 2016.
Shri Parvez Dewan and Shri Khurshid Ahmed Ganai, Advisors to the Governor; Shri B.R. Sharma, Chief Secretary; and Shri B.B. Vyas, Financial Commissioner, Planning and Development Department attended the meeting. Shri Navin K. Choudhary, Commissioner Secretary, Finance Department made a presentation on the proposals before the SAC.
The SAC approved a total On Account Appropriation of Rs 14,714 crore comprising of Rs 9,105 crore under Revenue Account and Rs 5,609 crore under Capital Account for the period April 1st 2016 to June 30th 2016. The SAC also approved the Supplementary Budget for 2015-16 of the order of Rs 7,160 crore comprising of Rs 3,584 crore as Revenue Expenditure and Rs 3,576 crore as Capital Expenditure.
Pursuant to the SAC approval, the Governor, in exercise of the Legislative powers vested in him, approved Appropriation Act (1) of 2016 covering Supplementary Expenditure for 2015-16 and Appropriation Act (2) of 2016 covering On Account Appropriation for first three months of 2016-17. Besides, the Governor has also approved the release of first quarter appropriation for 2016-17 by or before March 31st 2016.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.