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| On FC’s register, J&K lists Rs 15,000 Cr desire, Rs 15,598 Cr demand | | | Early Times Report
Srinagar/Jammu, July 1: If the visiting Finance Commission headed by Chairman Vijay Kelkar goes by the desperate pleas of Chief Minister Omar Abdullah and Finance Minister Abdul Rahim Rather, Jammu and Kashmir can be just the second name of development and prosperity between 2012 and 2017 –the period of Thirteenth Five Year Plan.
In its presentation to the Finance Commission, the state government has projected case in two ways –one is desire and other is demand. The desire is for Rs 15,000 Crores to fund power projects of 1500 Mega Watts in the State sector. And the demand is strictly for Rs 15,598 Crores. It may be mentioned here that Five Year Plan of Jammu and Kashmir was rolled out at Rs 1151.71 lakhs.
The demands projected by the Chief Minister Omar Abdullah and Finance Minister Abdul Rahim Rather include meeting financial burden raised by implementation of 6th pay commission which is calculated as Rs 1700 Crores annually and Rs 4200 Crore arrears.
The government has sought a generous award to implement the recommendations of the 6th pay commission, involving an amount of Rupees 1700 crore annually and Rupees 4200 crore arrears besides implementing the New pension Scheme (NPS). The government also seeks one time grant of Rs 1500 crore to wipe out the over draft from Jammu and Kashmir.
Speaking at a meeting with the members of 13th Finance Commission at Sher-e-Kashmir International Convention Complex (SKICC) here today, Chief Minister Omar Abdullah said that the state has to implement the 6th Pay Commission recommendations.
The Commission has been studying the Finances of the state for quite sometime now and is fully aware of its precarious state.
This, additional burden of over Rs 1700 crore per annum and arrears of over Rs 4200 crores is not something the state can bear, he said.
Nonetheless, it is the obligation of the state to honour its commitment and I see no reason to escape from this. We would request the Commission to steer the state clear out of this additional burden by making a generous award.
Likewise, the state is keen to implement the New Pension Scheme which, however, our resources do not permit us to implement and, therefore, we would like the Commission to make full provision in their award as requested in our memorandum, ''he added.
Mr Omar also said as the finances of the state continue to be under constant pressure, overdraft from Jammu and Kashmir Bank limited has become a structural reality rather than an interim necessity.
At no point of time the overdraft has gone below Rs 1500 crores and therefore this fiscal imbalance needs correction.
He poined out even though in the Memorandum a request for one time support of Rs 750 crore has been made but he would strongly plead for one time grant of Rs 1500 crores to wipe out the over draft so that a new beginning could be made in reshaping the finances of the State.
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