The recent reforms taken by the J & K administration to set right the financial structure have become visible now. The sincere initiative of the Finance Department to institutionalize prudence in financial management in J&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, 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 overruns.
Promoting good governance in the financial management has been one of the core objectives of the government. The financial system in J&K is one of the most transparent systems anywhere and is among the key changes that have taken roots in the Union Territory.
In a recent meeting Finance Department highlighted major reforms taken up by the J&K government to bring greater transparency in the financial system making it more robust and result oriented.
The unprecedented levels of transparency have been achieved through EMPOWERMENT (Enabling Monitoring and Public Overview of Works being Executed and Resources for Meaningful Transparency), which is a web portal that hosts all the works being executed in the UT and allows public oversight over all works under execution.