Key reforms introduced by the Jammu and Kashmir government in its financial structure envisaging added transparency and accountability have brought UT s fiscal system at par with any other progressive arrangement across the country .A departmental official, while elaborating on the subject, maintained that implementation of transformative reforms such as Budget Estimation and Allocation Monitoring System BEAMS , online submission of bills through J amp;K PaySys, mandatory administrative approvals, technical sanctions and e tendering, digital payments, GFR, GeM and related measures have greatly helped the financial systems in J amp;K to be at par with any other developing financial system in the country.Publication of pictorial e compendiums related to projects completed under Back to Village, District Capex, UT Capex and JKIDFC broadly reflects government s commitment towards engaging with the citizens. This is the first time in the Union Territory of J amp;K that people are able to oversee works being executed in their areas on a real time basis. During 2020 21, more than 18,000 works were available on the EMPOWERMENT portal for the first time in J amp;K for public viewing thus bringing in real grass root empowerment.The sincere initiative of Finance Department to institutionalize prudence in financial management in J amp;K has truly transformed the Union Territory.
The essence of reforms such as online processing of bills through PaySys, streamlining of GST, e stamping, e GRAS, e auction of liquor licences for retail outlets, digital payments, implementation of GeM, path breaking reforms in J amp;K Bank, publication of important manuals relating to Budget and Audit, Back to Village and My Town My Pride initiatives besides 100 physical verification of works which was a most vital program to ensure implementation of projects without cost and time over runs.