Delhi, Jan 19: Maintaining that exploitation of local hydel resources was imperative for meeting the future energy needs of the state, the J&K government today sought liberal financial support for various hydro-electric projects (HEPs) by suitable augmentation of the state plan.
 At a pre-budget conference of State Finance Ministers held here today under the chairmanship of union Finance Minister, Pranab Mukherjee, J&K called for expeditious investment clearances by the central institutions  concerned and provision of adequate funding in the next year’s Union Budget for various hydro-electric project identified for execution.
 It was revealed in the meeting that the state government has handed over several identified sites to the National Hydro-Electric Projects Corporation (NHPC) for execution of hydro electric projects.
 “Additionally, MoU has been signed long ago to execute three projects viz. Pakaldul, Kiru and Kawa with a total capacity of 2120 MWs in joint venture between NHPC and J&K State Power Development Corporation.”
 "Early completion of all these projects is necessary not only for J&K but also in the national interest.”
 “Similar priorities need to be given in respect of other Central investments in the State including improvements to the highway 1A, Udhampur- Qazigund Railway line, thermal project of NTPC and other projects under implementation and those to be undertaken in near future by any Central government agencies or CPSUs,” the meeting was informed.
 The meeting was informed that State Power Development Corporation shall be commencing work on execution of Baglihar HEP II and Swalkot HEP in near future. "We shall need additional capital to meet the full equity requirements for ensuring financial closure of these projects."
 “The requirements being huge,” it was revealed, “cannot be met within State’s normal annual plan outlay.”
 "Deferment of any of these projects or slowing down the progress thereon shall not be in our interest and needs to be avoided by way of providing adequate financial support"
 Seeking personal initiative of the Union Finance Minister for improving the export environment in the State, J&K pleaded that State’s carpet manufacturing industry, which is its major exchange earner and sustains large scale employment needs augmentation as the industry has not yet fully recovered from the impact of global economic meltdown.
 The state also sought Central support for boosting tourism in the State.
 Highlighting burgeoning problem of un-employment among the youth of the State, it was stressed that rapid and sustained industrialization is the only solution to the problem. 
 The State also called for complete restoration of industrial package so that the process of industrialization is accelerated in the State for both income and employment generation.
 J&K also sought re-look on state's long pending demand for reimbursement of security related expenditure on certain crucial security items which could not be adequately accommodated by them so far.
 Describing the pre-budget consultations with the State Finance Ministers as extremely useful exercise, given the need for coordination and cooperation between Central and the State Governments in meeting the challenges for sustained growth, the meeting was informed: "Since many of the budgetary approaches are common between the Centre and the State, a lot is learnt from the interactions made in pre-budget State Finance Ministers’ conference for preparing the State budget". 

Lastupdate on : Wed, 19 Jan 2011 21:30:00 Makkah time
Lastupdate on : Wed, 19 Jan 2011 18:30:00 GMT
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