Financial Daily from THE HINDU group of publications
Tuesday, Feb 15, 2005
Financial Daily from THE HINDU group of publications Tuesday, Feb 15, 2005 |
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Industry & Economy
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Economy J&K annual Plan fixed at Rs 4,200 cr Our Bureau
The Jammu and Kashmir Chief Minister, Mufti Mohammad Sayeed, with the Deputy Chairman of the Planning Commission, Dr Montek Singh Ahluwalia, at a meet in New Delhi on Monday. — Shanker Chakravarty
New Delhi , Feb. 14 THE annual Plan outlay of Jammu and Kashmir for 2005-06 has been determined at Rs 4,200 crore at a meeting between the Planning Commission Deputy Chairman, Dr Montek Singh Ahluwalia and the Chief Minister of Jammu and Kashmir, Mufti Mohammad Sayeed. The Plan panel endorsed the State's request for this level of Plan size in view of the special interest evinced by the Prime Minister in accelerating the pace of development in the valley to draw it to the national mainstream. In his remarks, Mr Ahluwalia said the overwhelming response shown during the elections by the people need to be complemented by national effort to realise expectation of the people of Kashmir and said the establishment of truly representative local government would foster a base for better transparency and accountability. The Chief Minister pointed out that after nearly 15 years of terrorism the State was returning to normalcy and said the effort of his Government would be to make administration more transparent and achieve growth rate much above the national average through people's participation. The Deputy Chief Minister, Mr Mangat Ram Sharma, said the State Government was working towards providing necessary infrastructure in the urban areas. He said fiscal reforms introduced in the State have yielded positive results. Revenue surplus is up from Rs 128 crore in 2002-03 to Rs 798 crore in 2004-05 and during the same period fiscal deficit was down to 4.5 per cent of state domestic product from 8.5 per cent. From a primary deficit of Rs 722 crore, the State is now primary account surplus. He said the thrust was on maintenance expenditure and completion of unfinished works.
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