Jammu/Srinagar, Oct 3: The Jammu and Kashmir government has formally kick-started the budget preparation exercise for the financial year 2026-27, setting in motion a crucial process that will shape the Union Territory’s fiscal priorities, development goals, and policy direction for the coming year. The Finance Department has issued detailed instructions to all administrative departments to begin compiling their budget estimates (BE) for 2026-27 and revised estimates (RE) for 2025-26, with strict timelines to ensure timely submission and consolidated planning.
According to the official communication, the process at the Drawing and Disbursing Officer (DDO) level must be completed by October 20, while the Heads of Departments (HODs) are required to finalise and forward their estimates by October 25. The final scrutiny, consolidation, and submission to the Finance Department are scheduled to be completed by October 30, paving the way for the preparation of the draft budget.
This early start to the budget exercise reflects the administration’s emphasis on fiscal discipline, outcome-oriented planning, and timely resource allocation. Officials said the process will focus not only on routine expenditure and revenue targets but also on aligning financial planning with the UT’s broader development vision, flagship schemes, and infrastructure priorities. Departments have been asked to ensure realistic projections, strengthen data-backed estimations, and align proposals with ongoing reforms in public finance management.
The exercise will also review current financial performance and utilisation levels under the 2025-26 budget, enabling departments to revise their estimates and re-prioritise spending based on emerging needs and sectoral demands. A senior finance official noted that the government aims to enhance the efficiency of public spending, improve fund utilisation, and ensure that developmental works and welfare schemes continue without delays.
This budget will be particularly significant as Jammu and Kashmir navigates evolving development challenges, infrastructure demands, and economic recovery goals. Timely preparation and submission of estimates are seen as critical steps in facilitating transparent decision-making and enabling the Finance Department to present a comprehensive and forward-looking budget in the Assembly.