The Hindu Business Line : J&K annual Plan at Rs 2,500 cr

The Jammu and Kashmir Chief Minister, Mufti Mohammed Sayeed, calling on the Deputy Chairman of the Planning Commission, Mr K.C. Pant, in the Capital on Thursday to finalise the Annual Plan of the State.

NEW DELHI, May 29

THE annual plan of Jammu and Kashmir for the current fiscal has been fixed at Rs 2,500 crore as desired by the State Government and in deference to the Prime Minister's expressed interest in accelerating the pace of development in the valley.

This was agreed here at a meeting between the Planning Commission Deputy Chairman, Mr K.C. Pant, and the State Chief Minister, Mufti Mohammed Sayeed.

In his preliminary remarks, Mr Pant said the State needs focussed attention on specific development programme with planned development of Ladakh region deserving special attention.

As per the Prime Minister's announcement, the Planning Commission has enhanced Border Area Development Programme (BADP) for J and K to Rs 100 crore per year for five years from 2002-03 to coincide with the Tenth Plan. He said handicraft and tourism had potential for employment generation and sustaining economic development.

Mr Pant also drew attention to the balance from current revenue (BCR) position of the State that was continuously deteriorating and it should implement the memorandum of understanding signed with the Ministry of Finance in letter and spirit for improving fiscal profile. He said during the Ninth Plan period J&K was provided 33 per cent more Central assistance than the level projected in scheme of financing.

Mr Pant said the State should take effective steps for power sector reforms as transmission and distribution losses at 46.90 per cent were among the highest in the country. Power tariff was only 27 per cent of average cost of supply. He said the State Government needed to revise water rates and encourage formation of water user associations to manage irrigation systems.

The State Chief Minister pleaded for enhanced financial support to the State while reiterating his Government's firm commitment to reforms.

He said the healing touch policy of his Government has large financial cost associated with it.

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