JK moving towards modern financial system: Drabu

Jammu and Kashmir Finance Minister Haseeb Drabu today said the government was taking steps for a complete overhaul of fiscal management to move away from an archaic setup to a modern financial system.
Addressing a large gathering of officers and officials from finance and allied departments at Muthi here, Drabu said finance department had to play its role as a regulator and a facilitator and the onus of doing that lies with the officials of the department.
"We are moving into a regime of extraordinary complicated but efficient financial system which require a large-scale capacity building," he said while inaugurating a new finance complex spread over 16 kanals and constructed at a cost of Rs 10.65 crore.

Commissioner Secretary Finance Navin Kumar Choudhary was also present on the occasion.
Drabu said that officials at the department and those deputed with other developmental, cooperative departments must pay special attention to regularising the expenditure of public money.
"Public money needs to be treated like our own money; only then can the financial system of the state be streamlined and stabilised," he said.

Congratulating the department for the new complex, the Minister suggested a special library be established for exclusively finance-related literature.
He also set up a data centre and a room for archives and oldrecords at the complex.
Later, Drabu launched a Community Facilitation Centre at Muthi Migrant Camp and also interacted with the locals.