STATE TIMES NEWS
JAMMU: Minister for Finance, Dr Haseeb Drabu on Wednesday said the government has initiated some pioneering fiscal management measures to strengthen and streamline the economic and social infrastructure.
He said as a part of the government’s initiative to increase developmental spending, the highest ever allocation of Rs 31,000 crore (39%) is expected to be spent on developmental activities out of the total expenditure of Rs 79,472 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, adding 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. Winding up the discussion on the demand of grants for the departments under his charge, the Finance Minister said the government is working on introducing a system which can showcase tangible development on the ground.
The Finance Minister said increase in budgeted Capex has massively shifted the total percentage of expenditure towards development front. In 2011-12, the rate of investment on development front was 6.80 percent of the State Domestic Product (SDP) which has reached 10.02 percent in 2016-17, the highest ever, he said. The main focus in 2017-18 will be timely rollout of projects under Rs 80,000 crore Prime Minister’s Development Package (PMDP) for development and reconstruction of physical and economic infrastructure in the State. To clear the gap in the salaries of SSA/RMSA and other workers engaged under centrally sponsored schemes, the government has decided to delink their salaries from source of their funding so that they will be paid in time for the services they are rendering to the people, he added. Speaking on the issue of government’s stand on implementation of GST in the State, Dr Drabu said the clarity has not been made so far and the modalities are being worked out in the GST council meetings. He assured the House for sincere efforts in starting the process of regularisation of the estimated 61,000 casual and other workers of various categories subject to a set of guidelines and objective criteria.
He said that the Labour department is reviewing the issue of implementation of Minimum Wages Act. Earlier, the minister moved a Demand for Grant of a sum of Rs 3141680.85 lakh and a sum of Rs 20062.39 lakh to defray the charges which will come in the course of payment during the year ending March 31, 2018 for the departments under his charge.
