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| Important to have Zero budgetary deficit, says MoS finance, as state can’t monetize | | |
Jammu, February 01
Minister of state for Finance, Planning and Development Department Mr. Prem Sagar Aziz in reply to a question by Mr. Ali Mohammad Sagar informed the Legislative Assembly today that an amount of Rs 12,389.63 crores has been made available to the state under plan sector and as per information for the period 2002-2006, an amount of Rs 10,030.66 crores has been made available to the state under plan sector excluding an amount of Rs 1151.39 crores on account of Prime Minister’s Reconstruction programme.
He said since state government cannot monetize deficits, it is imperative that while formulating the budget, the level of the budgetary deficit is kept at Zero. Such an approach also enables to have a larger plan outlay, he said.
Till 2004-05, central assistance to the state plan used to be more than the size of plan. This meant that central assistance would finance a part of State’s non-plan as well. By the year 2005-06, a stage has reached, where the size of the plan is larger that the level of central assistance by nearly Rs 200 crore. This essentially means that the state government is now able to finance its plan-albeit to a very small extent from its own resources.
In 2006-07, he said, the state’s plan outlay of Rs 4347.67 crore is partly being financed from our own resources after separating the power budget. It is expected that as per the revised estimates, against the central plan assistance of Rs 2921 crore (excluding power grant and 10% loan), the state’s plan expenditure will be of the order of Rs 3902 crore.
He said the aim of the fiscal policy is to progressively reduce our dependence on central assistance.
He said 14 state sector projects have been taken up under PMRP. These include Baglihar Hydro Electric Project, Transmission and Distribution, Sawalkot road, Srinagar Leh transmission line, Mughal road, Khanabal-Pahalgam road, Narbal-Tangmarg road, ADB counter part funding, salary for third teacher in Primary education, 14 new Degree Colleges, 9 New Women ITI’s, Model villages, infrastructure development of LAHDC and two room tenements for Kashmiri migrants. The estimated cost of these projects is Rs 3787.42 and so far Rs 1215.36 has been expended.
The central sector projects implemented by the state government agencies under the plans are electrification of all villages & desiring households, total literacy campaign in Kargil, Poonch and Kupwara, setting up of 6817 Anganwari centres, upgradation of Jammu/Srinagar medical Colleges, National Rural health Mission, upgradation of Health infrastructure, development of 50 tourist villages, assistance to Tourism Development authorities, development of new Tourist Circuits, Lakhanpur-Basholi-Bani-Sarthal circuit, Jammu-Rajouri-Poonch circuit
and Bhadarwah-Kishtwar-Srinagar circuit, conservation of Dal Lake, conservation of Tsomoriri,Mansar and Wullar Lake, rehabilitation of Horticulture and establishment of Agri clinics, urban self employment, raising of 5-IR Battalion, construction of temporary shelter on Int. border/LOC, assistance to displaced persons of POK, assistance to the state rehabilitation council, sewerage and drainage for Greater Jammu, sewerage and drainage for Greater Srinagar, augmenting and improvement of water supply in Jammu and compensation to industrial units used by the security forces.
These projects are likely to cost Rs 6810.40. The central sector projects implemented by the central government agencies are 1000 Micro Hydro-electric projects, Uri Hydro-electric project (HEP) II, Kishan Ganga Hydro-electric project, Pakul Dul Hydro-electric project, Bursar Hydro-electric project, Nemo Bazgo Hydro-electric project, Chhutak Hydro-electric project, Domel Katra road, Batote Kishtwar road, Nimo-Padam_Darcha road, double laning of Srinagar-Leh road, IT skill promotion and infrastructure facilities at Srinagar airport.
The estimated cost of these projects is Rs 15828.80. The total revised cost of all projects taken up under Prime Minister’s Reconstruction Plan is Rs 26426.62
Mr. Abdul Rahim Rather, Mr. Harsh Dev Singh and Mr. Abdul Rehman Veeri raised the supplementaries.
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