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| J&K Plan swells by Rs 500 Crore | | • Allocation for 2008-09 fixed at Rs 4500 Crore | | Early Times Reporter
Jammu | Jan 12
Just four days ahead of the presentation of the annual budget of Jammu and Kashmir, the government has got the plan allocation approved from the Planning Commission. And the good news is that the plan allocated for the next fiscal is Rs 500 Crores higher than the previous allocation.
After a meeting between the PC Deputy Chairman Montek Singh Ahluwalia and the Chief Minister Ghulam Nabi Azad, who was accompanied by senior officers of Finance and Planning departments, the Planning Commission has fixed the next year’s annual plan at Rs 4500 Crore. This is Rs 500 Crores higher than the current fiscal’s allocation of Rs 4000 Crores.
An official statement has said that the plan will be fully funded and include a component of Rs. 993 crore of special plan assistance, over and above the power reform grant.
The Deputy Chairman of the Planning Commission Montek Singh Ahluwalia has announced that the Prime Minister's Reconstruction Plan for the State would continue as planned and funded by the union government separately. He also announced that a high level group of Centre and State officials will be set up to monitor power reform progress. The group will meet on a monthly basis,
Complimenting the Chief Minister for the reforms and infrastructure development undertaken in the State, Mr. Ahluwalia and other members of the Planning Commission greatly appreciated the State government's management of the economy. Mr. Ahluwalia said that there is clear improvement in resource management and distinct signs of turnaround in the State economy. He noted with satisfaction the qualitative improvement in the State finances and the impressive performance of the power sector.
The Commission felt the need for higher public and private investment in the agriculture and allied sectors. The members also felt that more public expenditure should be allocated to segments of the health sector, agriculture, irrigation and exploring ground water potential.
Ahluwalia assured the Chief Minister that the funds release mechanism would be rationalized and unnecessary bottlenecks removed. He also appreciated the implementation of Prime Minister's Reconstruction Plan in the State. |
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