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| Governor asks SFC to expedite broad based interim recommendations | | | Early Times Reporter
Srinagar | Sep 5
Governor, N N Vohra today urged the State Finance Commission (SFC) for presenting broad based interim recommendations which could provide crucial inputs and form the basis for the State Government's Memorandum to the 13th Finance Commission currently under preparation.
Interacting with the Chairman of the Jammu and Kashmir State Finance Commission, Mehmood-ur-Rehman, and members of the Commission, Prof Nissar Ali, Swami Raj Sharma and Sonam Dawa, the Governor observed that the recommendations on the fiscal devolution to civic bodies and other measures for strengthening the Local Self Governing bodies could go a long way in decentralization of the decision making process, a leading to qualitative improvement in governance.
Rehman apprised the Governor about the Commission's visits and interactions in each of the districts of the State except two, which the Commission proposes to visit along with other remote and backward areas across the State. He said that the Commission had also extensively studied various Public Sector Corporations across the State. The Commission was, in particular, looking into the issues pertaining to corporate governance, with the objective of restructuring of these institutions of vital public importance.
Rehman said that the Commission was mapping the regions and sub-regions with reference to well accepted development indicators for identifying the backlog of development in backward areas and suggest strategies for short and long-term correction. He said that the Commission was also identifying measures to bring about a paradigm shift in the approach for inter-se allocation of resources by treating each region and sub-region within the region as a targeted economic unit.
The Chairman said that the Commission was also reviewing the state of finances and suggesting restructuring of the public finances, restoring budgetary balance, achieving macro-economic stability and debt reduction. He said that the Commission would be suggesting measures needed to augment the resources of the State Government, particularly to supplement resources of Halqa Panchayats, Municipalities and Municipal Corporations.
Among others, Principal Secretary to Governor, B B Vyas and other senior officers of the Finance Department and the Commission were present on the occasion. |
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