KL NEWS NETWORK
SRINAGAR
The State Administrative Council (SAC), which met in Jammu on Monday under the chairmanship of Governor N N Vohra, approved the “On Account Appropriation” for a period of three months beginning April, 2016.
Parvez Dewan and Khurshid Ahmed Ganai, Advisors to the Governor; B R Sharma, Chief Secretary; and B B Vyas, Financial Commissioner, Planning and Development Department attended the meeting. Navin K Choudhary, Commissioner Secretary, Finance Department made a presentation on the proposals before the SAC, an official spokesperson said this evening.
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.
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