Govt clueless about expenses on new administrative units

JAMMU: Jammu and Kashmir government Wednesday seemed clueless about the expenses that the newly created administrative units would incur. “The budget for the creation of new administrative units is an adhoc provision. I will put it in the budget later,” Finance Minister Abdul Rahim Rather told reporters outside of legislative Assembly after presenting sixth budget […]

Incentives and concessions

Insurance Scheme for Sarpanchs and Panches in place at premium of Rs 63.44  lakh. 20 crore provision for creation of additional 1000 Anganwadi Centers  in a phased manner. 25 crore for regularisation of Rehbar-e-Zirat. Provision of  3 crore for marriage of orphan girls belonging to a BPL family. Beti Anmol benefit to be increased from […]

Reorganisation of Com Tax Deptt on anvil

JAMMU: Commercial Taxes Department is to witness reorganization to enable it to cover new districts and overloaded areas by independent assessment circles, Finance Minister Abdul Rahim Rather said Thursday. The proposed reorganization may also enable us to keep Lakhanpur Check Post open for import of taxable goods almost on a round the clock basis. The […]

Budget HIGHLIGHTS

Annual project Plan size : Rs 11300 crore. Rs 47.50 crore for clearing statutory liabilities of corporations during next year. Grant-in-aid (financial devolution) in respect of Local Bodies to go up from Rs 306 crore to Rs 383 crore . Super Specialty Hospital, Jammu commissioned. Rs 2.8 crore has been provisioned for  current year and […]

Budget reflecting right policies of govt: FM

JAMMU: Finance Minister Abdul Rahim Rather Thursday said budget is reflecting policies and programs of the coalition government, aims to give right direction to the state’s economic growth and development within the available resources. In his 115 minutes long Budget speech, Rather said that despite limited financial resources and multiple problems confronting the state, every […]

High inflation threat to growth: FM

NEW DELHI: High inflation poses a big threat to growth as it would impair the ability of the Reserve Bank to cut interest rates to boost economic activities, a Finance Ministry document said. “The outlook on growth is…Threatened by certain downside risks; the biggest of them being the high rate of inflation, which further dents […]

Banks asked not to display names of education loan defaulters

CHANDIGARH: Banks in Punjab were Thursday asked not to display names and photographs of education loan defaulters. Quoting a communication of Department of Financial Services, Ministry of Finance, bank official in a State Level Bankers Committee (SLBC) meeting said that some banks were adopting “reprehensible practices” such as displaying names and photographs of students who […]

Govt writes off more than Rs 2000 cr PSE debt

JAMMU: Finance Minister Abdul Rahim Rather Thursday announced that government will write off all the debt of the state owned public sector enterprises to provide them chance for revival. “To bring in improvements in the performance of our debt ridden PSEs who survive on budgetary support from government having no capacity to re-pay such liabilities […]

J&K Budget 2014-15 today

J&K Budget 2014-15 today

JAMMU: To present the annual budget today, Finance Minister Abdul Rahim Rather Wednesday gave final touches to    Finance Minister Abdul Rahim Rather Wednesday finalised the Budget 2014-15 at Civil Secretariat, here. This will be 6th in a row Rather will be presenting 6th budget . This is the 6th budget in a row Rather is […]