JAMMU - Jammu and Kashmir Governor's administration has begun the exercise for finalisation of the budget for the Union Territories of Jammu-Kashmir and Ladakh by next Monday.
According to an order issued by the Finance Department, the budget for the current financial year has to be segregated in two parts i.e., 7 months from 1st April to 31st October, 2019 as the state of J&K and for 5 months from 1st November, 2019 to 31st March 2020 as UTs of J&K and Ladakh.
"Attention of all the administrative secretaries is invited towards the preparation of budget for the current financial year 2019-20 and ensuing financial year 2020-21 and it is informed that the budget for the next five months beyond 31st October, 2019 for Union Territory of Jammu and Kashmir and Union Territory of Ladakh has to be prepared by 14th of October," Financial Commissioner Arun Kurnar Mehta said in an order.
The Centre on August 5 revoked the state's special status under Article 370 and proposed that the state be bifurcated into two separate Union Territories of Jammu-Kashmir and Ladakh from the night of October 31.
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