State to seek 10 %hike in annual plan allocation

Rather Likely To Present State Budget On March 5

Jammu, Jan 25: Jammu and Kashmir government is likely to seek 10 per cent hike in the annual plan allocation for the fiscal 2013-14 besides extension of center’s special package under Prime Minister.
 Official sources said that the broad contours of the next year’s plan proposals were discussed today at a meeting chaired by the Minister for Finance and Ladakh Affairs Abdul Rahim Rather. The Minister for Planning and Development Ajay Sadhotra also attended the meeting. “It was observed that the state has a right to claim ten percent hike over the plan allocation for the current financial year in view of the positive developments both in the revenue generation and plan execution during the current financial year”, sources said.
 The State, they said, may be seeking Rs 8300 plan for the next fiscal as compared to the current year’s plan of Rs 7300 crore.
 Meanwhile, the Finance Minister is likely to present the next year’s Budget in the State Legislature on March 5, this year. The state government, they said, would seek tentative figures of plan allocation from the Planning Commission prior to the presentation of the budget before the state legislature, they added.
 The Minister has asked the concerned authorities of Finance and Planning Departments to formulate the proposals with strong logic as early as possible so that these are forcefully put before the Planning Commission of India (PCI) for approval.
 He said that the requirements and the aspirations of the people should be the fulcrum of the next year’s plan adding that the realistic figures that would suffice sectoral requirements of the State need to be projected in the Plan proposals.The Finance Minister, sources said, also asked the official to prepare all the required reports so as to seek extension on the Prime Minister’s Reconstruction Plan as major component of the projects, undertaken under it, were yet to be completed.
 He said the flow of funds under the plan from Union Finance Ministry under various heads is going on regularly and satisfactorily, adding that Rs 400 crore have also been released so far under committed Special Plan Assistance (SPA) of Rs 1984 crore, hoping that the remaining amount on this account would also be released shortly as the State has fulfilled all the requisite formalities in this regard.
 It was informed that the State has submitted projects worth Rs 600 crore to the Centre under SPA which have been approved by the Planning Commission and are being scrutinized by the Union Finance Ministry for release of funds.
 Minister for Planning and Development, Ajay Sadhotra asked the officers of Planning and Finance Departments to work in close coordination to formulate a people friendly budget. “The main thrust of the Planning should be on the resource mobilization,” he urged.
 Economic Advisor to the Government, Jaleel Ahmad Khan, Financial Commissioner Finance, Iqbal Khanday, Principal Secretary, Planning and Development, B R Sharma and Director Resources, Risham Kashyap were also present in the meeting.

Lastupdate on : Fri, 25 Jan 2013 21:30:00 Makkah time
Lastupdate on : Fri, 25 Jan 2013 18:30:00 GMT
Lastupdate on : Sat, 26 Jan 2013 00:00:00 IST




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