State Cabinet has approved 44,000 crore rupee special financial package for rehabilitating the people in Srinagar and other localities in the State who suffered losses in recent floods. The proposal for the package has been forwarded to the Union Government. It will be reminded that the Prime Minister, after making aerial survey of the flood affected areas had told the State Chief Minister to submit comprehensive proposal for rehabilitation of the people emphasizing that funds would not pose any problem. The State Government has worked out the package without loosing time and hopefully it is based on the assessment of losses on the ground. The proposal is comprehensive in a big sweep that covers almost all trades and professions in the category of flood sufferers. All sources of financial support to the victims have been taken into consideration especially banks and financial institutions which would go out of way in providing liberal loans with minimal interest and moratorium on repayment for ten years, waiver of bank loans/interest up to 3 lakh rupees and compensation for damaged houses from 3 to 10 lakhs each. Apart from estimated requirement of 44,000 cr rupees as financial package, the State Government has also decided to approach the Union Home Ministry for releasing funds to the tune of Rs. 1947.20 cr under NDRF besides requesting the Union Government to declare tax holiday for the J&K State for a period of 10 years to help in the revival of the State’s economy.
The comprehensive package is most likely to receive the approval of the Central Government and it will meet the needs of all sections of people to restart their normal lives. However various aspects of the rehabilitation package need to be clarified and addressed in good advance. In the first place the criterion of assessing the damage to residential houses and Government structures should be laid down in detail. Secondly, a foolproof mechanism has to be evolved to ensure that fake applications are not entertained and only genuine victims of floods are the recipients of Government’s largesse. The victims claiming more than 1.50 crore rupees as the loss of residential house or business establishment should be asked to submit their tax payment documentation. These measures and perhaps much more need to be taken to ensure that genuine victims of floods are not denied relief and that it does not go to the wrong persons of which there could be many apprehensions.
We appreciate the State Government’s initiative of formulating within just a month’s time the special financial package of 44,000 cr rupees for rehabilitation of 12.50 affected families.
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