April 26, 2024 08:16 (IST)
Follow us:
J&K Guv NN Vohra meets Jaitley
New Delhi, Jan 30 (IBNS): Jammu and Kashmir Governor N. N. Vohra Friday met Union Finance Minister Arun Jaitley in New Delhi 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 reel under the burden of huge structural negative bBalance in Current Revenues (BCR) which has grown over the years, an official spokesman said.
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, Vohra told 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 spokesman said.
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.
(reporting by Saleem Iqbal Qadri)
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Plea filed in Calcutta HC seeking action against Mamata Banerjee's 'judges purchased' remark Fri, Apr 26 2024
'Most compassionate and kind': Musician Ricky Kej on Ratan Tata after conferring humanitarian award Thu, Apr 25 2024
Bollywood actor Neha Sharma campaigns for her father in Bihar amid rumours of poll debut Thu, Apr 25 2024
LS polls: 88 seats across 13 states, UTs going to polls tomorrow for phase 2; 1202 candidates in fray Thu, Apr 25 2024
'Neither shocked nor surprised': Mallikarjun Kharge writes open letter to PM Modi over Congress manifesto row Thu, Apr 25 2024
'Biased, reflects poor understanding': India dumps US report on alleged rights abuse Thu, Apr 25 2024
6 killed in hotel fire near Patna Junction railway station Thu, Apr 25 2024