Like our Facebook Page

news details

Jaitley assures to redress J&K's financial difficulties 1/30/2015 10:58:31 PM Agencies NEW DELHI, Jan 30: The Governor N. N. Vohra today met the Union Finance Minister, Arun Jaitley here to seek special and additional financial assistance to bail the state government out of the current financial crises. The Governor apprised the Union Finance Minister that the State Government continues to reels under the burden of huge structural negative Balance in Current Revenues (BCR) which has grown over the years. The situation has further been aggravated by the unprecedented floods that struck the state in September 2014 resulting in colossal losses to life, private property and public infrastructure. The damages have adversely impacted the pace of economic activity in the state also leading to erosion of state government revenues, Mr. Vohra told Mr. Jaitley. The Governor further observed that there is an unfunded gap of over Rs 5000 crores in the overall resources of the state government as a result of which the level of pending liabilities across the treasuries in J&K has crossed over Rs 2000 crore. The Union Finance Minister assured the Governor that the State Government's financial difficulties will be immediately looked into by the Union Finance Ministry with all sensitivity and sympathy on an emergent base. It was decided that a team of senior officers from the State Government will meet the Secretary Expenditure in the Union Finance Ministry so that the State Government's requirements are addressed in a time bound manner. The Governor also requested for immediate release of the balance amount of around Rs 1160 crore under Special Plan Assistance (SPA) to ensure timely completion of ongoing development projects in the State.   Share This News with Your Friends on Social Network     Comment on this Story

top stories of the day

4 yrs on, case against LA speaker's son gathers dust Mufti set to become J&K's 12th CM, state likely to have all time high plan Anti-Jammu and pro-Pakistan Noorani terms PDP “dubious” Rs 14 Cr lying unspent for the last 4 years as Govt fails to identify land Contractual college lecturers of Srinagar deprived of enhancement in salaries Delay in completion of NS Bridge irks Uri residents 'Sonia destroying Congress in J&K by promoting Azad' Valley people want MLAs to vote to go with state, Centre Contenders rush to Jammu to appease Mehbooba 5 yrs on, Critical Care Ambulances fail to hit roads in JK Kashmir based tourist taxis not allowed to operate upto Katra, taxi operators aghast ERA projects yet to be completed despite missing of several deadlines DC Kishtwar enjoys NHPC perks; People face acute water, power woes BJP to take Chenani-Nashri Tunnel dispute with GoI Middle school Nahoti and its dilapidated manhole BJP’s 2014 vision document for J&K under fire Anti-Jammu and pro-Pakistan Noorani terms PDP “dubious” For appeasing PDP, BJP remains mum on WPRs DC Kishtwar fails to file property statement

STOCK UPDATE

BSE Sensex NSE Nifty

CRICKET UPDATE