Jammu: Jammu and Kashmir’s own revenue collection reached ₹13,628 crore up to October 2026, registering a growth of 14.8 per cent over the corresponding period last year, officials informed a review meeting chaired by Finance Minister Javid Ahmad Dar on Tuesday.
The increase amounted to around ₹1,751 crore, with tax revenue growing by 15.2 per cent and non-tax revenue by 13 per cent, according to the Finance Department.
The meeting reviewed the Union Territory’s fiscal position, revenue mobilisation, expenditure management, debt management and ongoing financial reforms.
Dar took note of the growth in revenue collections and reviewed measures aimed at strengthening the revenue base, including improved compliance with Goods and Services Tax (GST) returns, enhanced billing efficiency, increased dealer registration, e-stamping and transparent excise auctions.
The meeting also discussed the proposed Carbon Credit Trading Policy, which seeks to generate additional non-tax revenue by leveraging Jammu and Kashmir’s hydropower, forestry and clean-energy assets.
The minister reviewed financial reforms aimed at improving efficiency and reducing the cost of public borrowing. He also took note of power-sector reforms, which are expected to improve revenue realisation and reduce expenditure in the sector.
Officials informed the meeting that General Provident Fund (GPF) claims and contractor liabilities were being settled within 10 days to improve liquidity and facilitate timely payments.
The meeting was also informed that funds under Centrally Sponsored Schemes, including the corresponding Union Territory share, were being released within 48 hours of the issuance of mother sanctions to facilitate implementation of development programmes.
Reviewing the digital transformation of financial management, Dar assessed progress on the Integrated Financial Management Information System (IFMIS) 3.0 and the Works Activity Monitoring System (WAMS).
He directed officers to reduce avoidable recurring expenditure, control committed liabilities, plug revenue leakages and improve collection efficiency across departments. He also stressed the need to ensure timely utilisation of funds and improve the quality of public spending.
Additional Chief Secretary, Finance, Shailendra Kumar, Director General Accounts and Treasuries, Director General Resources, Director General Codes and other senior officers attended the meeting.
