Excelsior Correspondent
NEW DELHI, June 9: The J&K Minister for Finance and Ladakh Affairs, Abdul Rahim Rather today called for some bold fiscal and monetary initiatives in the ensuring Union Budget of the new Union Government, in consultation with all the stake holders, to realize the prime objectives of containing the inflation, stabilization of the Rupee and accelerating the pace of national economic growth besides giving impetus to local manufacturing activities and improving the exports.
Speaking at the first pre – budget consultation meeting of the State Finance Ministers, chaired by the Union Finance Minister, Arun Jaitley, Rather exuded confidence that the unfolding of new priorities and programmes in the first budget of the newly elected Union Government coupled with the right budgetary interventions will adequately guide the course of the nation’s economy. He said that the funds requirements of all the Central projects under execution in the States, whether taken up under state plans or the union flagship programmes, Centrally Sponsored Schemes or the Central Schemes will need to be the first charge on the current year’s budgetary resources of the Union, adding that the people have been eagerly and patiently awaiting their early completion.
Mr. Rather also sought high priority for linking of Kashmir with the national railway network and upgrading and four laning of NH – 1A upto Kashmir which is much behind the schedule in some segments.
“In view of its critical importance in many ways and for economic uplift-ment of the region, it will need your priority consideration. Similarly, the funds requirements for other committed Central projects including upgrading of Jammu airport to take care of the ever growing needs of pilgrims to Shri Mata Vaishno Devi Ji Shrine, making the Srinagar international airport fully operational for international flights, improving Leh airport and creating commercial air services for Kargil merits new Union Government’s priority consideration,” Mr. Rather added. He also sought improvements of NH-1B and NH- 1C; and creation of a tunnel each at Zojila pass connecting Ladakh and at Simthan Top connecting Kishtwar with Kashmir besides prioritizing the work on the power transmission line at Ladakh across Zojila.
Saying that catalyzing of industrial activities is a major initiative for giving a boost to the economy of the Special Category States, Mr. Rather sought IT exemptions, renewal of Excise Duty exemptions and extension of the complete North East Industrial Package to J&K for the existing and new industrial units to be announced in the forthcoming budget. “Provision of infrastructure at the LoC check posts and strengthening of cross LoC trade also needs special attention,” he added.
Mr. Rather also sought adequate funds for creating independent infrastructure for five new Medical Colleges approved by the centre for the J&K state in the current year’s Union Budget. He also sought adequate funds for some important ongoing projects under the state component of Prime Minister’s Reconstruction Programme for J&K (PMRP) like rehabilitation of Kashmiri Migrants, restoration of lakes and counterpart funds for the J&K Economic Reconstruction Agency (ERA) to be provided against lifting of international loans.
Mr. Rather also urged the Centre to adequately cater to the Special Plan Assistance (SPA) and Special Central Assistance (SCA) requirements of the Special Category States including J&K, adding that size of the annual plan of these states is largely dependent on the Central Assistance.
The J&K Finance Minister also sought centre’s nod on the introduction of GST as per the recommendations of the Empowered Committee of the State Finance Ministers, which also includes the J&K Government’s views on the need to preserve the Special Constitutional Status of J&K at the time of working out the modalities for introducing the GST across the country.
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