Development work not affected by delay in Plan allocation: J&K
The Jammu and Kashmir government on Thursday said development activities in the state have not been affected due to delay in finalisation of Plan allocation by the Centre.india Updated: Aug 07, 2014 18:41 IST
The Jammu and Kashmir government on Thursday said development activities in the state have not been affected due to delay in finalisation of Plan allocation by the Centre.
"We have not let the development activities be affected by the delay in finalisation of the annual plan for the state," J&K finance minister Abdul Rahim Rather told reporters here.
The state was using internal revenues and funds released by the Centre under various components to meet the expenses, he said.
"Over the past few years we have been able to increase our revenues... The Centre is also releasing some funds under various components. The state is not facing any financial problems," Rather said, adding that he was hopeful of the state Plan being finalised soon.
He said there was no truth in the claims that the state government was borrowing from the open market to meet its expenses.
"We have borrowed some money from the market but it has been done with the concurrence of the Centre. We have borrowed according to the provisions of borrowing in the Plan," he added.