Panel has a bailout pill for J&K
A task force led by noted economist C Rangarajan suggests a Rs 8302-cr package for J&K, reports Jay Raina.india Updated: Dec 23, 2006 00:52 IST
The Task Force set up by the Prime Minister on development of Jammu and Kashmir has recommended a Rs 8,302- crore package for the economic reconstruction of the state, ravaged by militancy for the past two decades.
Key recommendations include the transfer of the 390 MW Dulhasti hydroelectric project to the state, a Rs 1,750 crore rural roads development programme and a satellite business city estimated at Rs 200 crore to decongest the state’s summer capital — Srinagar, and the development of a special investment zone to attract industry so as to generate much-needed employment especially for the educated youth.
Constituted by prime minister Manmohan Singh in March 2005, the nine-member force led by noted economist Dr C Rangarajan presented its report to him on Friday morning. The panel had been mandated to firm up recommendations to ensure rapid economic reconstruction of the state afflicted by terrorism-related violence.
Identifying power as the most critical infrastructure bottleneck to attract private sector investment in the state, the panel suggested a clutch of measures — both short and long term — to redress the crises in this sector. Seeking a Rs 4,933-crore Central compensation to National Hydel Power Corporation for immediate transfer of the Dulhasto project to J & K government, it also suggested several measures to manage the existing capacity in the power sector. In a special reference to tourism and horticulture, the Rangarajan Committee has suggested fast track completion of road and rail projects in the valley.
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