Srinagar,August 10(Vijay Kumar) – Minister for Finance & Ladakh Affairs Abdul Rahim Rather said that total plan outlay has been up by 22.22 percent to Rs 5500 crore with Capital Expenditure at Rs. 4847 crores and revenue component of Rs 653 crore.
Soon after presenting annual budget in the J&K Legislative Assembly here on Monday, Minister for Finance & Ladakh Affairs Abdul Rahim Rather addressed a press conference.
Giving details on expenditure on salary and pension, Mr. Rather said that it will account for Rs. 8126 crore. He said that interest payment estimates have gone up by Rs. 127 crore at Rs. 1729 crore.
Asked about the increase in non-plan expenditure, Mr. Rather said it is mainly due to implementation of Sixth Central Pay Commission for state employees and pensioners. He said the fiscal deficit is estimated at Rs. 2081 crore; down by Rs. 306 crore.
The Minister said that the main aim of this budget has been to encourage local entrepreneurship and manufacturing sector. He said efforts have been made to discourage import of products and increase their local production in the state. This, he said, would not only save money from going outside the state but also generate employment opportunities for the youth of the state.
Responding to a question, the Finance Minister said the increase in taxes on poultry products imported from outside state has been made to give boost to local production of poultry. When asked about the provision of job opportunities for migrant pandits, the Minister said that the Centre has created 6000 posts for the migrant youth adding that it would meet the expenses needed for the purpose. However, he said the scheme would benefit only those migrant families which are registered and they will have to ensure return to the Valley.
About the regularization of adhoc/ contractual employees who have completed seven years of service, the Minister said that this is one time facility which has been given to these youth as the same method has been adopted by other states like Himachal Pradesh to adjust these youth. He said the scheme would not be implemented for perpetuity as it is dangerous for the educated and qualified youth of the state.
To another question regarding 6th Pay Commission, the Minister said that the government has already reached an agreement with the employee representatives and the recommendations have been implemented. However, he said the state exchequer would require Rs 4200 crore for meeting the expenses of the pay commission. He said that state has less resources available at present and the financial position of the state has been meticulously presented before the 13th Finance Commission. He said we are hopeful that very soon the state would be given adequate funds so that other demands of the employees could be fulfilled.