The current financial crisis in Jammu and Kashmir where the state has been virtually forced into a total financial breakdown is a result of the negative policies of the previous NC government. Even the Honorable Governor has accepted this financial breakdown and written to the Union Finance Minister pointing to the severe difficulties faced in funding the state annual plan for 2014- 15) and the precarious condition of J&K’s financial balance. The previous NC government led by Omar not only totally mismanaged the state finances and utterly failed in end use of funds; they even failed to submit ‘Utilization Certificates’ before the Centre thereby blocking further disbursements. Ironically while government employees would be unpaid salaries for months together and other bills would remain pending for longer durations, the NC government did not bother much. The last nail into the erosion of financial strength of our state was nailed when NC government sold its financial autonomy to New Delhi. J&K has been pushed to such financial instability by the previous NC government that there has been a virtually shutdown of all development or state services.
Posted on: Thu, 22 Jan 2015 21:01:13 +0000
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