Jammu & Kashmir CM Omar Abdullah has said the state’s current financial situation is grim since its total annual income of Rs.6,500 crore was not sufficient to meet expenditure, making it totally dependent on central assistance.
Omar also said he wants to achieve financial autonomy for the state. “The present financial status of the state is grim. We have a total annual income of only Rs 6,500 crore from all sources,” Omar said, while addressing a public gathering after laying the foundation stone of the Rs 3,113 crore Baglihar-II project at Chanderkote in Ramban district.
“While we have to pay Rs 13,500 crore as salaries and Rs 2,000 crore to pensioners, our electricity loss amounts to another Rs 2,000 crore annually,” he said. “In this situation, we have to remain totally dependent on central assistance.”
“In order to safeguard the economy and financial position of the state, we have to focus on harnessing hydroelectric potential of our rivers,” Omar said.The CM related the state’s financial autonomy with indigenous generation of surplus power and its export to neighbouring states.
Omar also said he wants to achieve financial autonomy for the state. “The present financial status of the state is grim. We have a total annual income of only Rs 6,500 crore from all sources,” Omar said, while addressing a public gathering after laying the foundation stone of the Rs 3,113 crore Baglihar-II project at Chanderkote in Ramban district.
“While we have to pay Rs 13,500 crore as salaries and Rs 2,000 crore to pensioners, our electricity loss amounts to another Rs 2,000 crore annually,” he said. “In this situation, we have to remain totally dependent on central assistance.”
“In order to safeguard the economy and financial position of the state, we have to focus on harnessing hydroelectric potential of our rivers,” Omar said.The CM related the state’s financial autonomy with indigenous generation of surplus power and its export to neighbouring states.
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