Like our Facebook Page

news details

Amid severe financial crunch Mufti says 'All is well' 5/19/2015 11:51:22 PM Early Times Report Srinagar, May19: Even as the Jammu and Kashmir is reeling under severe financial crisis and there seem no signs of replenishing the empty coffers, the Chief Minister Mufti Mohammad Sayeed continues to tour across the length and breadth of the state to make his presence felt on the ground. Inspection of the ongoing projects (if any) and further committing for new development works is what the chief minister is untiringly busy at. However, the state coffers are empty even though the officials in the finance department say that liabilities to the tune of Rs.2500 crore have been discharged during this month. The liabilities discharged during this month have been managed by local receipts and the monthly statutory devolutions from the central government. A senior official in the finance department told ET on Tuesday that liabilities to the tune of Rs.2500 crores have been cleared during this month which include GP Fund bills worth ` 300 crore, Contractors bills worth ` 200 crore, Power Payment worth ` 600 crore, Salary bills around ` 800 crore and arrears to the tune of 200 crore. The senior official further said hundis worth ` 500 crore have been released during the month of May. The official, however, said that the state is somehow managing to clear the liabilities but has nothing for execution of developmental projects as the central government (Niti Ayog) has not released the share due to the state under 14th Finance Commission Award. "Things will improve execution of works priority. We are trying to overcome the crisis: he said. The official added that the state has to clear liabilities worth 2100 crore more. The state's liabilities that have swelled to over Rs 2,000 crore include Rs 500 crore of GPF and Rs 600 crore of contractors' bills. However, sources said, the administration was trying to ensure that the development works didn't suffer due to lack of adequate flow of funds. "We have directed the District Development Commissioners to go ahead with the development works with the rider that payment to the contractors can be made once the funds were released by the Union Government under plan, Centrally Sponsored Schemes and Prime Minister's Re-construction Plan,'' sources said. It may be mentioned here that bills worth several crores have piled up in different treasuries and authorities have asked the contractors to wait for arrival of the funds.Another senior official in the finance department said the financial problems have cropped up in the State but hopefully they will be addressed soon after the central government releases the funds. However, the interesting thing to note is that amid the severe financial crunch, Chief Minister, Mufti Sayeed continues to tour across the length and breadth of the state in an apparent attempt to make his presence felt. Though the development works have reached to a grinding halt due to non-availability of funds, Mufti attempts to reach out to the people to give away the impression that all is well in the state.   Share This News with Your Friends on Social Network     Comment on this Story

top stories of the day

In Srinagar, admin facilitates arrangements for anti-India rallies! Proposed PSC members: NC worker out, BJP worker in What will the BJP do now? Administrative reshuffle: KAS Officers rue postings in violation of Apex Court orders Teacher embarrasses Minister, beats kid to pulp in open Impropriety galore in RDD: Blue eyed Juniors man higher posts Waiting list for Govt accommodation at Srinagar remains stagnant since 2013 Don't act as second fiddles: BJP high command to party ministers Termination of absentee doctors: Nothing beyond tongue waggling Nirmal, Sukhnandan motivated CM to review stand on Tawi Lake: Sham Artificial lake controversy willfully created to scuttle AIIMS' movement Revokes transfer order issued at Kichloo's behest College ransacking: Uri MLA's son yet to be arrested People protest, judicial probe ordered Rs. 8.5 Cr Bhour camp Tulip garden reduced into grazing ground Mission Director NHM seeks regularization of its employees Factory owners threaten striking employees DHS Kashmir becomes first casualty of anti-corruption 'crusade' of PDP-BJP govt Mufti tours Kupwara distt, promises adequate staff deployment in rural areas For 20 yrs, Jammu family struggles for piece of land, courtesy Housing Corp Review of recruitment policy adds to PDP's woes Yes, dead people receive pension in Baramulla Teachers paying from pockets to keep Mid Day Meal scheme alive Akhter's appeal for Geelani's passport draws flak

STOCK UPDATE

BSE Sensex NSE Nifty

CRICKET UPDATE