SRINAGAR: The Prime Minister’s package of Rs 80,000 crore for Jammu and Kashmir will be executed over a period of five years in a phased manner, with annual disbursement depending on the spending capability of the State Government and implementing agencies.
This was stated today by Jammu and Kashmir Finance Minister Haseeb Drabu in the State Assembly where he said an amount of Rs 1197 crore has already been received from the Centre specifically for relief and rehabilitation of victims of the 2014 floods.
“The size of the PMDP (PM’s Development Package) which is an aggregate of sectoral initiatives, is Rs.80,000 crore. It is fully funded and expected to be executed over the next five years,” he said.
“The annual phasing of the plan will be based on the absorptive capacity and spending capability of the State Government and its implementing agencies,” Drabu said in his budget speech in the Legislative Assembly here.
He said the capital expenditure, which forms a large part of the Prime Minister’s economic rehabilitation plan, has been designed as a critical link between relief and development. (AGENCIES)
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