news details |
|
|
| Financial crisis: FM's 'gaffe' in seeking funds from centre ….? | | No formal proposal nor any communique sent to Centre so far …..! | | Early Times Report
Jammu, June 2: Attribute it to the inexperience or lack of knowledge about state's financial matters, the new Finance Minister is Dr Haseeb Drabu is learnt to have faltered in getting funds released in favour of J&K from the Centre, a lapse which has intensified financial crisis in the state. No formal proposal was sent by the Finance Minister within stipulated time period which could have been incorporated in the Union budget which was passed on May 5 in the Parliament. Nor has any written communique gone till date to centre seeking funds for exigency purposes and immediate necessary expenditures from the Finance Ministry.
Sources said while in the budget presented by the Finance Minister Dr Dbaru made an elaborate mention of requirement of funds for various heads besides rehabilitation of flood victims, it failed to send formal proposal for the same within a time bound manner to Centre, though plan outlay for the current fiscal year has been sent to NDA government as a matter of routine course every year.
Sources within the government admitted that this is a slip up on part of the new government, particularly the Finance Ministry which needed to prepare separate proposals for adequate funds other than what has been sought in the annual plan of the state. This had become all the more imperative for the government this year on account of huge liability caused due to devastating floods and other development works that have come to halt now, said the sources. What has augmented the delay is that no letter or any written document has gone to Union government from the state requisitioning release of funds in order to meet immediate expenditures. In the normal course, sources said such proposals are sent by every state as per their requirement well within the time before presentation of union budget and even during the course of discussions which enable the Centre to incorporate these proposals before it gets formally passed, explained the sources.
This clearly implies a lapse on part of the government as it could not send proposals for funds on urgent expenditures for two months, sources further said. The Finance Minister, for whom this is a maiden assignment both as the minister and as crucial and vital a job as the Finance Ministry, not only erred on this count but actually stumbled as he clubbed the requirement and release of funds with the annual plan, said the sources. Whereas the fact remains that these are two separate matters and it is a widely known fact that it normally takes quite some time in getting through the annual plan. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
