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| ‘PCs to credit for turnaround’ | | Azad believed reconstruction will bring peace | | Early Times Reporter
Jammu | Jan 12
If there are some positive developments in Jammu and Kashmir on the fronts of peace and prosperity, the credit goes to “two PCs” –Planning Commission and P Chidambram, the Union Finance Minister.
This is what Chief Minister Ghulam Nabi Azad said today when annual plan for Jammu and Kashmir was fixed at Rs 4500 Crores.
Azad said that the answers to the problems prevailing in Jammu and Kashmir lies in economic reconstruction. He said that the peace is now all prevalent in the state and this has happened due to the support of the Planning Commission and Finance Ministry which is headed by P Chidambram.
According to an official spokesman, making a strong case for enhanced allocation for the coming fiscal, the Chief Minister said that the last five years have shown that the only route to achieve long lasting peace in the State is through economic reconstruction and prosperity. He said the help extended by Planning Commission and Ministry of Finance has been a key factor in making a turnaround in the State.
On the reforms undertaken by the J&K government under his leadership, Mr. Azad said the State economy, backed by credible policy action-fiscal, industrial and trade- has diversified and its SDP is growing at a much faster rate than in the preceding years. With transition to VAT regime, he said, the tax collection has become much more buoyant and the expenditure mechanism is equally improving. Backed with this confidence, he said, the State has set a target of 8% growth in SDP over 11 th Five year Plan. The Chief Minister said sectors like health, education, connectivity and power are the thrust areas of his development paradigm. He said 33 District and Sub-District hospitals are nearing completion in the State. Similarly, he said, networks of colleges, bridges and roads are being laid to take development to grassroots. He said the State needs a special attention in terms of finances as apart from lagging in development and ruined by militancy, J&K seems to be victim of natural disasters as well. He said just as the State was limping back to normalcy in the last five years, a snow tsunami, a major earthquake, devastating floods, drought and fires and avalanches visited in quick succession. All these misfortunes, he said, cost the State dear and strained the resources.
The Chief Minister said as if the natural disasters were not enough, the State seems to step on a fiscal landmine every year laid by poor fiscal management of the past, whether in the servicing of power bonds, bullet repayment, Baglihar project's borrowing or honouring a devolved guarantee. The fiscal gains are negated by this, he said, adding that the State's fiscal balance has been literally destroyed by the sudden discovery of unpaid liability of interest on NSSF loans from the year 2001 amounting to Rs. 1000 crore.
Azad asked the Planning Commission to put in place a system of proportionate allocation from SPA and ACA so that there is no liquidity mismatch in the State. He called for release of 75 percent of all special assistance in the first quarter itself. He assured the Commission that he will personally ensure that every rupee that is generated and received from the Centre will be put to the best use and sought its continued support and understanding to achieve this end. |
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