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| Over Rs 6000 cr outlay on mind, FM all set to present budget with tentative figures today | | "Modest hike" in plan size agreed in principal | |
EARLY TIMES REPORT
Jammu, Mar 11: The wrap up meeting of high level officials with the Planning Commission having concluded on what is being termed as 'fruitful' note, the J&K state is poised to get a plan size of nearly Rs 6000 cr for the next financial year, though the government had in its figures projected a hike of 10-15 % of previous plan outlay at Rs 5500 cr. With broad hints about the plan size emerged after the final meeting today, the Finance Minister A R Rather is all set to present the annual budget for next year tomorrow in the state Assembly, incorporating the tentative figures on major aspects of the budget.
High placed sources said the Planning Commission while acknowledging and recognizing the 'efforts' of the state government has given a nod for the 'projected requirements' on the basis of which a hike between 10-15 % had been sought in the new plan. Though the plan size has not been finalized yet but the Commission has agreed in principle to accept this projection of hike, sources said indicating the plan size cannot be less than Rs 6000 cr.
"Though plan size has not been finalized yet but we expect a modest increase in previous plan size……", said a senior most officer who attended the meetings during last two days with the advisors and experts of the Planning Commission. "We had conveyed our expectations based on expenditures at the sectoral level…..the experts have taken positive cognizance of the works done in respective sectors during last year about which presentations made separately", said the officer adding that Plan would be fixed around these expectations.
The Planning Commission, sources said, while emphasizing need for greater support to J&K has however given thrust on 'looking at the resource position' at own level while agreeing and endorsing the expectations and proposals of the government in this state. Today's meeting of secretaries of various departments was led by the Chief Secretary SS Kapur. The final plan size will be announced after a high level meeting to be held between Chief Minister Omar Abdullah, Finance Minister AR Rather with the Deputy Chairman of Planning Commission Montek Singh Ahluwalia.The meeting, however may not be possible during this month due to pressing engagements of the Finance Ministry with budget and presentation of grants in the Legsilative Assembly, sources said adding that dates will go beyond March.
In addition to 10-15 percent hike in the plan size, the state government has also sought extension Power Reforms Scheme for which the centre has already granted Rs 3900cr which were to be released in three instalments of Rs 1300cr each.While major chunk of this amount stands already released by the Centre, besides the left out amount of Rs 270 cr, the state government has sought 1300cr more funds to be used for strengthening the power sector in the state.
Even as the state government has sought additional Rs 1200cr for expenditure on developments works under Prime Minister's Reconstruction Programme in addition to the hike in general plan size, it remains to be seen whether the Planning Commission agrees to extension and granting that separately or club it with the plan size. Last year, besides granting Rs 5500 cr, the state government got this additional amount of Rs 1200 cr for works under PMRP.
Meanwhile, the hectic exercise related to presentation of budget went ahead this evening after the Finance Minister got picture about the deliberations and broader hints about the plan size state may get for next year. "The budget was already prepared but certain areas were left blank till we got some idea after wrap up meeting…….as plan size is not yet final, the budget will have a tentative size of the figures based on assessment made by the Finance Minister about the plan size but these are near total figures and won't make a big difference", said a senior officer of Finance Department. Veteran in the field of Finance, AR Rather will present his 10th Budget in the state Assembly but tomorrow it will be only second budget of the present coalition government led by NC, also being presented by AR Rather.
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