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| 5 months left for financial year to end but annual plan yet to be finalised | | State faced with severe financial crunch | | Akshay Azad
Jammu, Oct 15: Already grappling with severe financial crunch due to inordinate delay in finalisation of annual plan 2014-15, the Jammu and Kashmir Government has every reason to worry about as only five months of the current financial year are left but there seems no possibility of the crucial plan finalisation meeting in New Delhi.
Sources informed Early Times that though the Union Government had so far released nearly Rs 2,000 cr under various heads of annual plan without even finalization of annual plan but the amount was inadequate against the requirements and mounting liabilities.
"The more worrisome factor is that only five months of the financial year are left and the winters have already begun in state. In Kashmir valley and other hilly areas of state, the working season is only for few summer months and now as the winter season has begun there will be negligible works done in these areas", sources said.
They informed that the union government had already decided to do away with the Planning Commission, which used to approve and release annual plans of the states and it was yet to come up with an alternate mechanism for approval of plans and giving other central assistance to the States.
Moreover, there seems no possibility of holding crucial working group meetings in New Delhi, which are held usually before finalization of annual plan and before the final meeting with the Chief Minister of state.
A secretary level official in Jammu and Kashmir Planning and Development Department (JKP&DD) said that the delay in approval of annual plan has been exhorting pressure on treasuries, which were unable to meet the growing liabilities. He added that the pressure on treasuries would only ease off after the approval of complete annual plan outlay.
The Union Ministry of Finance has so far released nearly Rs 2000 crores to the state under various heads of Annual Plan, including Non Plan Assistance, Special Central Assistance, Share in Central Taxes and some other categories but that amount was not enough.
"The state government is in regular touch with Union Finance Ministry and has sought release of Special Plan Assistance (SPA) component and most probably in few days, it will be released which will ease off the mounting pressure over treasuries", the official said, adding that there was, however, no word about the finalization of annual plan.
Pertinently, the State 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). |
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