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J&K gets a reprieve: First installment of plan funds released Out of Rs 7300 crore annual plan, Rs 1869 crores released 8/17/2014 12:00:53 AM Akshay Azad JAMMU, Aug 16: Union Government finally released the first installment of plan funds amounting to Rs. 1869.36 Crores to Jammu and Kashmir, pending finalization of Annual Plan 2014-15. Sources informed Early Times that though the Union Government has almost finalized to replace Planning Commission of India by another constitutional body but based on the provisional allocations made by the Planning Commission, plan funds to the tune of Rs. 1869.36 Crore have been released by Ministry of Finance to State Government. They further disclosed that the plan funds released by Union Finance Ministry to Jammu and Kashmir Government, included Normal Central Assistance of Rs. 1143.73 Crore and Special Central Assistance of Rs. 688.20 Crore, have been released. Sources further maintained that apart from Plan funds, non-plan releases of Rs. 930.64 Crore and devolution of Central taxes of Rs. 1421.56 Crore have also been made to Jammu and Kashmir. "Funds are flowing to Jammu and Kashmir through various centrally sponsored and central sector schemes", sources said quoting communique of Finance department, adding that the Union Government has also made it clear that budgeting being an annual exercise, release of funds under plan allocations to the states were made within the same financial year and could not be made non-lapsable. Talking to Early Times, Commissioner Secretary to Finance Department BB Byas admitted that plan funds to the tune of Rs. 1869.36 have been released by Union Government. He further added that through the funds for two months were withheld by Union Government as the Union budget was not finalized but some days back the plan funds were released, following which liabilities to the tune of several Crores have been cleared. Pertinently, the Jammu and Kashmir Government had in its budget for 2014-15 projected the plan size of Rs 11,900 Crore including Rs 7300 Crore main plan, Rs 4000 Crore assistance under Centrally Sponsored Schemes (CSS) and Rs 600 Crore assistance under Prime Minister's Reconstruction Plan (PMRP).   Share This News with Your Friends on Social Network     Comment on this Story

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