J&K Annual Plan fixed at Rs 4,347 crores
24 February 2006
New Delhi: The overall annual outlay for Jammu & Kashmir for the year 2006-07 was fixed at Rs 4,347.67 crores at a meeting here on Friday between Planning Commission Deputy Chairman Montek Singh Ahluwalia and State Chief Minister Ghulam Nabi Azad. It was decided that the State would have a Plan outlay of Rs 3,500 crores along with a reconstruction plan of Rs 847.67 crores, thereby taking the overall resources available during the new fiscal to Rs 4,347.67 crores. This would also include an additional Central assistance of Rs 230 crores for the Baglihar project and a special assistance of Rs 813.12 crores for the State's priority projects. To tide over the power sector problems, it was decided that the State Government, the Union Ministry of Finance and the Planning Commission would enter into a tripartite memorandum of understanding (MoU) to put in place a programme for dealing with the growing deficit.