The Jammu and Kashmir government will allocate Rs 3100 crore to districts for undertaking developmental works in the ongoing financial year, during the upcoming District Development Board (DDB) meetings, sources told Greater Kashmir.
After discussions with departments and district heads, the State's planning and Finance Ministries have earmarked Rs 12106 crore for capital expenditure which was earlier pegged at Rs 11246 crore in the Budget.
"Of this, Rs 3100 crore have been reserved for district sector capital expenditure," they disclosed.
Talking to Greater Kashmir, Finance Minister DrHaseebDrabu confirmed that Rs 12,000 crore would be spent for building infrastructure in the State.
"Roughly 30 percent of this amount would be spent in district sector while the remaining in state sector," he disclosed.
He said the government would clear liabilities created in the past from the capital expenditure.
The government, he said, has introduced major reforms and innovations to ensure proper development and keep an eye on spending.
"For the first time, the comprehensive capital district plan will be discussed during the Board meetings. We will discuss the credit plan with the banks," he said, adding this investment would be over and above the plan.
Drabu described separation of revenue and capital expenditure components of the plan as the "biggest advantage to the State." "We can now monitor every rupee spent on developmental works," he said. "The new mechanism will ensure proper monitoring of developmental works and lead to greater accountability and transparency."
Pertinently, the DDB meetings would start from June 18.