Voices for creation of Lapse Fund Account (LFA) in Jammu and Kashmir to ensure “proper utilization” of development funds and avoiding their lapse are growing louder. The development comes in the wake of government spending just 50 percent of Rs 6,600 crore plan allocation during the past 10 months of this fiscal.
State government has booked just Rs 3,400 crore expenditure out of Rs 6600 crore annual plan for Jammu and Kashmir in the past 10 months of the ongoing financial year. While 12 departments have failed to spend even 50 percent of the plan allocation during the first nine months the expenditure has not crossed even 35 percent of the allocations in other six departments.