Finance Deptt kick starts exercise for Budget 2025-26

Departments directed to complete budget submissions by Nov 20

SRINAGAR: The Finance Department has officially commenced the fiscal year 2025-26 budget preparation process, along with revisions for 2024-25.
Administrative Departments, Heads of Departments (HODs), Budget Controlling Officers, and Drawing and Disbursing Officers (DDOs) have been instructed to prioritize timely budget submissions, with deadlines set for November to enable a seamless consolidation and review process.
The initiative aims to streamline budget formulation through the Budget Estimation, Allocation, and Management System (BEAMS), ensuring efficient financial planning across all departments.
A circular in this regard has been issued by the Finance Department.
All the Administrative Departments / HODs / Budget Controlling Officers/ DDOs are requested to start Budget preparation exercise for the year 2025-26 in the right earnest to enable examination, compilation and consolidation of these estimates in the Administrative Departments for onward submission of the same to the Finance Department, the circular reads.
It added that the Administrative Departments shall further carry out due scrutiny of estimates and forward their recommendations to the Finance Department not later than 20th November, 2024. To achieve this target date, the budget preparation at the DDO and the HOD level shall be completed by 11th November, 2024 and 15th November, 2024 respectively.
“The budget preparation forms for both Revenue Budget and Capital Budget will be made available to all the field offices as well as the Administrative Departments online through ‘Budget Estimation, Allocation and Management System’ (BEAMS) only. Hard copies of forms except for B4 (i) & (ii) and project-wise statement shall not be entertained in the Finance Department”, the circular reads.
The technical assistance in this regard shall be had from the PMU Team, Finance Department and the Resource Persons available in each District Treasury.
A detailed set of instructions for preparation of Budget proposals by the Departments are contained in the enclosed Annexure ‘A’. For extant instructions on the subject reference can be made to the Budget Manual.
A check list indicating details of information to be provided to Finance Department is also enclosed as Annexure ‘B’ for guidance.
All the Administrative Secretaries are requested to send Budget Proposals in respect of each HOD to the Finance Department by the notified date. The calendar for discussion of Budget proposals of the departments shall be issued separately.
The Budget proformas shall be submitted in Soft copies in respect of Revenue and Capex. No proposal shall be accepted if it is not complete in all respects as per guidelines issued as Annexures ‘A’, ‘B’ and ‘C’.