Govt to present tentative financial statement

Annual Plan Yet To Get PCI Nod


Jammu, Feb 16: With approval of the state’s annual plan by the Planning Commission of India nowhere in sight, Jammu and Kashmir government will be presenting, for the third consecutive year, tentative financial statement in the budge 2012-13. The state budget is to be presented in the state legislature on March 5.
If sources in the Planning and Development Department are to be believed there was hardly any chance of holding the final meeting between the Deputy Chairman, Planning Commission with the state government team headed by Chief Minister before May-June this year, keeping in view the busy schedule of the central government functionaries with the Assembly polls in several states.
“Preliminary discussions have ended and we were expecting to get the plan approval by the mid of this month so as to finalize our budgetary proposals accordingly”, sources said adding, “However, like previous year we have no option but to project tentative figures in the budget, to be presented before the state legislature on March 5”. Officials said with the pre-occupation of the central government including Finance Minister Pranab Mukerjee with the elections, approval is unlikely before the presentation of the state budget on March 5.
Highly placed sources said the final wrap-up meeting between Chief Minister Omar Abdullah and Planning Commission of India (PCI) Deputy Chairman, Montek Singh Ahluvalia is likely to be held in May-June.
Last year the state had got plan allocation of Rs 6600 crore and this year it has sought 10 percent hike and is expecting to get an allocation of Rs 7300 crore for the next fiscal. “The annual plan allocation is one of the important components of the budget and we will be now projecting 10 percent hike figures in the budget as the same has been assured by the centre”, sources claimed.
Last year, Jammu and Kashmir was almost half way through its limited working season, when the Planning Commission finally approved the annual plan 2011-12. It was in July 2011, when the funds formally were allocated to the different departments for utilization.
Minister for Finance Abdul Rahim Rather however said the sanctioning of annual plan y the Planning Commission was not a pre-requisite for the presentation of the state budget. “Non-finalization of the annual plan has no impact on the developmental scenario in the state as funds are provided from  internal resources before the actual funds start pouring in from centre”, Rather said.

Lastupdate on : Thu, 16 Feb 2012 21:30:00 Makkah time
Lastupdate on : Thu, 16 Feb 2012 18:30:00 GMT
Lastupdate on : Fri, 17 Feb 2012 00:00:00 IST

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