x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Pune co. illegally sublets STPs to PDP leader's son's firm | BJP vs BJP: Two file nomination for chairman in same MC | Govt silent on why MHRD didn't initiate release of funds for IIT Jammu | Contractor 'who transported LeT militants' to Kishtwar arrested | Failure to conclude search operation in Kishtwar claimed lives of Parihar brothers | MCC violation: Govt employees campaign for Panchayati elections | BJP openly violates code of conduct in lust of power | Bug of additional syndrome bites University of Kashmir as Professors, Officers given additional charge | GMC admin compromises safety guidelines, indulges in wasteful expenditure | Petition on un-electrified schools: SHRC issues notice to DSEK | Radicalization surging in educational institutions; authorities unmoved | 75 mtr bridge on Devak nallah in Purmandal misses two deadlines | Government's ODF scheme yet to reach Dhana village in Basohli | BVR Subramainam spends weekend working in Kashmir | Apprehending arrest, OGWs go underground in Dachhan | No check on mushrooming growth of coaching centres | BSF, Pak Rangers hold Sector Commander Level meet | 'Pak would have to pay a heavy price for truce violations, sniper attacks along LoC' | Transfer rules applicable for few departments in Valley | SKUAST-J holds 16th meeting of Board of Studies for Faculty of Agriculture | Residents of Sector-2 Channi Himmat hold meeting | JKAAA to conduct athletics competition for distt Kathua on Nov 14, 15 | Housing Board conducts draw of lots for allotting plots | 900 Shiv Sainiks to join Uddhav Thackeray at Ayodhya on Nov 25 | Chairman MC Vijaypur joins BJP | World Antibiotic awareness week commences | UBEA holds meeting, seeks change in office timings | JKGB organizes Going Digital Financial Literacy Camp | ABDPSS organises Bhandara | ESRM presents nukkad "Dharti Kahey Pukar Ke" | Painting competition on World Diabetes Day held | Two bank robbers held with stolen property | Sharma reviews JK's power scenario | Ruhjhuru Biradari mail held on 23 Nov | NCC Cadets of GDC Women shine at ATC Srinagar | 25 shooters flagged off for National Shooting Championship in Kerala | Kumar visit SMGS Hospital, takes appraisal of healthcare facilities | Confused DCC Kathua issues whip to BJP Councillors | Ganai chairs 79thSRTC Board of Directors meeting | Govt orders transfer, posting of two KAS officers | Govt constitutes Committees for implementation of AB-PMJAY Scheme | Chief Secretary reviews implementation of Land Records Modernization Programme | Sgr-Jmu highway: Traffic to proceed from Jammu | One more soldier martyred, another injured in sniper fire along LoC | Gen Rawat urges separatists to engage with interlocutor, rules out Govt-militants talks | PIL regarding better care of old age home | Mughal road closed as high altitude areas experience fresh snowfall | Kashmir braces up for widespread rain, snowfall | Attention: Candidates appearing in ACF Main Exam | Two get life imprisonment in murder case | For commencement of investigation in PC Act, permission must be taken by Magistrate: HC | Panchayat Polls-2018: CEO issues notification for Phase-8 | Kashmiri migrant pandit youths stage protest outside Raj Bhavan | Police foils PHE workers march to civil secretariat | Interstate gang of fraudsters involved in thefts, cheating busted | Bishnah Councillor among several social activists join BJP | '239 WSS to be completed by March 2019' | JKAEA calls on DG Accounts, raise pending demands | Advisor Sharma reviews functioning of Finance, allied Deptts | Family of three missing persons holds protest, block NHW for hours | Chairman J&K Bank calls on Advisor Sharma | Shopkeepers encroach footpaths in Mendhar | President, vice president of MCs Samba elected | Bar Association demands FIR against revenue official | Harsh Dev terms BJP rulers as 'Thugs of Hindustan' | SAKRS leaders visit Parihar family | State Roller Skating championship concludes | Jammu book fair inaugurated at Kala Kendra | DPS student wins position in gymnastics championship | DPS Nagbani organizes show and tell competition | Khalsa Club , Horizon Kings register wins in 7th Eid Diwali Milan Cricket Cup | DLL organizes coaching classes for NET/JRF | India needs to upgrade missile & other weapons | Enigma of Alienated Youth in Kashmir | Back Issues  
 
news details
Rs 8000 cr being infused to give fillip to infrastructure development in JK
All languishing projects to be completed by 2019
9/5/2018 9:59:35 PM
Early Times Report
SRINAGAR, Sept 5: With a view to providing fillip to the developmental activities across the State, the State Administrative Council (SAC) which met here today under the chairmanship of Governor, Shri Satya Pal Malik approved an amount of Rs 8000 crores for completing all languishing projects in the state. For this purpose, the SAC approved the establishment of a new infrastructure company, the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC). The JKIDFC has been authorized to raise a loan not exceeding Rs 8000 crores from various financial Institutions including State/ Nationalized Banks for completion of these unfunded, languishing projects.
Advisors to Governor, B B Vyas, K Vijay Kumar & Khurshid Ahmad Ganai, Chief Secretary B V R Subrahmanyam and Principal Secretary to Governor, Umang Narula were present at the meeting.
A persistent difficulty encountered in the development process has been the large number of languishing and unfunded projects. These developmental projects which are at different stages of execution are either inadequately funded or have been left incomplete due to one or the other reason. Some of them have been languishing for over 5 years resulting not only in blocking of funds spent on them but also in cost escalation and time overruns. A tentative assessment by the State Planning, Development and Monitoring Department (PD&MD) indicated that incomplete projects worth over Rs 10000 crores were at various stages and that over Rs 6000 crores would be required to complete all of them in one go. The State Planning department has further analyzed that six departments namely PW(R&B), PHE/I&FC, School Education, Higher Education, Youth Services and Sports, Health and Medical Education and Tourism taken together accounted for nearly two thirds of the total unfunded burden; the projects in these 6 departments alone account for nearly Rs. 4000 crores.
SAC took note of the fact that the completion of these projects in a business as usual manner would take over a decade. Recognizing the need of the citizens for essential infrastructure, it decided to approve a special scheme that would enable nearly Rs 8000 crores of developmental funds to be made available in one go, to be used not only for completion of unfunded/languishing infrastructural projects in the State but also for any other new infrastructure projects, which was a priority for the state.
In order to ensure proper and fool proof operationalization of the scheme and selection, authorization, monitoring and regulation of projects under it, the SAC also approved the constitution of a High-Powered Committee (HPC) comprising Administrative Secretaries of Finance, Planning, PWD and PHE besides the concerned Secretary of the department whose projects were being considered. It also directed that a stringent set of guidelines be put in place to ensure that only the deserving projects and those which are essential from public standpoint be funded under this scheme. The process would include the accord of Administrative approval and all relevant Technical sanctions before a project could be considered for sanction under the scheme besides strict adherence to a totally transparent and competitive, e-tendering process.
SAC further ordered that all projects would have to be completed strictly within the specified timelines and a pre-agreed penalty shall be imposed on the executing agency in case of any delay or slippage.
The new company, JKIDFC would be registered by Friday i.e 07.09.2018, and work on the unfinished/languishing projects would start immediately within a week.
The direction of the Hon'ble Governor is that funding on this scale for languishing projects such as bridges, roads, drinking water schemes and buildings has never happened before and therefore, all departments should implement works in a speedy, time bound manner to finish them, preferably by May, 2019.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU