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Annual Plan 2014-15 meeting unlikely to be held this year Finance Ministry releases first installment of SPA 10/25/2014 10:52:19 PM Akshay Azad JAMMU, Oct 25: For the first time in the past few decades there would be no meeting of Jammu and Kashmir Chief Minister with Union Government for finalization of annual plan 2014-15 as the first installment of Special Plan Assistance (SPA) has already been released and Union Government has also sent scheme of finances to State Government. The Union Finance Ministry has reportedly also asked the State Government to send revised estimates of all Government departments by January 31. Sources in Jammu and Kashmir Planning and Development Department informed Early Times that few days ago the Union Finance Ministry released the first installment of Special Plan Assistance to the tune of more than Rs. 900 Crore out of total projected SPA component of 2046 by State Government. "With the release of nearly Rs 900 Crores of SPA component, only Rs. 1146 Crores has been left with Union Finance Ministry besides nearly Rs. 2500 Crores of Annual plan has already been received by State Government, which means that only Rs. 4906 Crores out of total projected Rs. 7300 Crores has been left with Union Government", sources said. They further disclosed that according to a new communique sent by Union Finance Ministry, it has been reportedly directed the State Government to sent revised estimates by end of January 31 and the scheme of Finance has also been communicated to State Government. "After receiving the recent communique the State Planning department has also reportedly asked all the Government departments to send revised estimates", sources said, adding that previously, the revised estimates were only sought after the release of annual plan, but this year revised estimates were sought before complete release of annual plan, signaling bleak possibilities of annual plan meeting. Sources further disclosed that apart from Annual plan 2014-15, the remaining amount was loans, for which the State Government would approach the concerned Union Ministries separately, for release. "Already the Planning Commission of India has been dissolved and SPA component has been released, while the Special Central Assistance (SCA), Non Central Assistance are being released on monthly basis. Moreover, the SPA component has been released according to the Scheme of Finance communicated by Finance Ministry and it also signaling towards a fact that the remaining amount would also be released according to the Scheme of Finance and there would be no Annual Plan meeting 2014-15. There is every possibility that the remaining SPA component will also be released on the basis of projects and there will be no meeting of Chief Minister with Union Government for finalization of annual plan", sources said, adding that it might be the new channel of releasing the annual plan by Union Government.   Share This News with Your Friends on Social Network     Comment on this Story

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