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Initiated measures to strengthen economy: Fin Minister

JAMMU: The State Government today said it has initiated some pioneering fiscal management measures to strengthen and streamline the economic and social infrastructure and Rs 31000 crore will be spend on development initiatives during 2017-18.

Minister for Finance, Labour and Employment & Culture Haseeb Drabu said as a part of the Government’s initiative to increase developmental spending, the highest ever allocation of Rs 31000 crore (39 percent) is expected to be spent on developmental activities out of the total expenditure of Rs 79472 crore for the fiscal 2017-18.

“What we need is peace, stability and a working environment to facilitate fruitful spending of this huge allocation and creation of tangible assets on the ground,” he said replying to a debate in the Assembly on Demand for Grants for departments under his charge.

He added that the reformative measures announced in the Budget 2017-18 will go a long way in building a stable and progressive socio-economic framework in the State. (AGENCIES)


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