NEW DELHI, July 5: The Centre today announced a Rs 250 crore assistance to Jammu and Kashmir to help overcome the state's financial crisis and resolved to meet the state's expenditure to combat militancy.The Centre will meet the state's Plan requirement by bridging resource gaps and providing funds for a suitable Plan size and will also provide additional funds to restore infrastructure damaged by militancy under a bailout plan finalised at a high-level meeting chaired by Home Minister L K Advani here.
The release of Rs 250 crore will be made to the state pending further discussion between the Planning Commission and the Union Finance Ministry. Jammu and Kashmir will also receive Central funds in advance on monthly instalment, it said. Defence Minister George Fernandes who attended the meeting told mediapersons that the Centre ``has to meet security-related expenditure'' and that states ``cannot be left to bear the burden''. The meeting however felt the state should take steps to improve its ownresources.
The meeting was attended by Finance Minister Yashwant Sinha, Planning Commission deputy chairman Jaswant Singh, Power Minister P R Kumaramangalam and Jammu and Kashmir Chief Minister Farooq Abdullah.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.