Omar presses Centre on release of funds

Calls On Chidambaram To Seek Rs 6301 Cr Plan Finance Pending With GOI


New Delhi, Feb 1: Chief Minister, Omar Abdullah Friday called on Union Finance Minister, P Chidambaram and pressed for early release of funds withheld by the Centre under annual plan, Prime Minister’s Reconstruction Programme (PMRP), Centrally Sponsored Schemes (CSS), Special Plan Assistance (SPA), Security Related Expenditure (SRE) and other heads.
The Chief Minister, according to an official handout, besides discussing with Chidambaram delayed flow of central assistance and open market borrowings also sought extension of industrial package to Jammu and Kashmir.
Pertinently, as on date, over Rs 6301 crore under various components of plan financing have to flow from the Centre to the State which include the balance of Rs 1719 crore under Special Plan Assistance (SPA) against the approved Rs 1984 crore.
Chief Minister discussed matters relating to the resource position against the approved plan outlay of Rs 7300 crore and receipts from the Government of India against various components of the approved scheme of financing, as also the Prime Minister’s Reconstruction Programme (PMRP) of Rs 700 crore for 2012-13 in detail.
Chief Minister emphasized the need for early release of the balance amount to meet the financial requirements of the State on various counts. He also urged for early release of funds under PMRP so that the progress on various projects under implementation under PMRP is not hampered.
Omar also raised the issue of pending reimbursement of over Rs 253 crore under Security Related Expenditure (SRE) and said that the non-release of funds affects the resource position of the State. He underlined the need for early clearance of all pending claims in this regard.
The Chief Minister emphasized on exemption of additional market borrowing, included as a component for plan financing, from calculating the State’s FRL-Constant fiscal deficit targets as recommended by the 13th Finance Commission.
Discussing flow of central assistance, Chief Minister said in case of J&K, with limited working season, to ensure full and judicious plan implementation, there should be upfront release of central assistance/grants to avoid mismatch in the requirement and flow of funds which usually tend to flow at the close of the financial year, when the working season in most parts of the State is over.
“It would be much more meaningful if the tied funds and centrally sponsored schemes are sanctioned/released in the beginning of the year. Alternately, at least 50 percent funds should be released in April and balance after the stipulated percentage of available funds has been utilized by the State”, he said.
Batting for extension of special package for industrial growth in Jammu and Kashmir, Chief Minister said the incentive package for industrial growth lapsed on 14th June 2012. He said the State Government through the Consultant deputed by Industrial Policy and Promotion (DIPP), Government of India and also as directly raised this matter with the Ministry for Commerce and Industry for extension of package for another 10 years including the clause of “location neutrality” so that the industrial units situated outside industrial estates are also benefited.
The Chief Minister sought early approval of this extension from the Ministry of Finance and the Planning Commission of India.
Omar also discussed matters pertaining to early clearance of Pakaldul hydroelectric project by the Centre so that the Joint Venture would go for financial closure and subsequent allotment of work.
Omar, according to an official handout, expressed gratitude to the Central Government for liberal financial assistance to Jammu and Kashmir.
The Finance Minister, according to the statement, assured his full support to the Chief Minister in his efforts of resource mobilization and said that the matters raised would be sorted out on priority.

Lastupdate on : Fri, 1 Feb 2013 21:30:00 Makkah time
Lastupdate on : Fri, 1 Feb 2013 18:30:00 GMT
Lastupdate on : Sat, 2 Feb 2013 00:00:00 IST

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