Connect with us

TOP STORIES

JK Government Denies Financial Liabilities Amid Mounting Concerns | KNO

'Treasuries not running dry, aII financial liabilities being regularly discharged, bills for capital works of Rs 6184 Crore paid to Contractors '

Published

on

kno news

Jammu, Mar 13 (KNO): Chief Minister Omar Abdullah, who also holds the portfolio of the Finance Ministry, has firmly denied any accrual of significant financial liabilities due to poor financial planning. This statement comes in response to growing reports of financial strain, with claims that the state's treasuries were running dry, leaving employees and the general public in distress. According to news agency—Kashmir News Observer (KNO), in a detailed reply to a starred question posed by Mr. Mir Mohammad Fayaz, the government refuted allegations of financial mismanagement. The Chief Minister claimed in his reply that all financial liabilities are being regularly discharged, and there is no substantial delay in payments. The government disclosed that during the fiscal year 2024-25, ₹5,280 crore has been allocated for General Provident Fund (GPF) payments, ₹1,041 crore for gratuity, ₹953 crore for commutation, and ₹278 crore for leave salary. The treasury-wise details of pending bills, specifically related to GPF pensioner benefits, were also provided to the legislator. However, as per the government estimates, the number of employees subscribing to GPF has seen a slight decline, with 2,09,459 employees in 2022-23 contributing ₹3,929.24 crore, and 2,02,904 employees in 2023-24 contributing ₹4,090.77 crore. The government clarified that GPF subscriptions are received as contra credits, which are essentially book adjustments. Payments are being cleared regularly based on the availability of resources. The government also addressed concerns regarding delays in payments to contractors for executed works. It stated that priority is given to clearing bills for capital works to boost infrastructure development. During 2024-25, ₹6,184 crore has been paid to contractors, and all bills up to January 7, 2025, have been cleared. Pertinently, according to the Economic Survey Report (ESR) 2024-25 tabled in the House on Thursday, the outstanding debt of Rs 1,25,205 crore represents 52 per cent of J&K's GSDP of Rs 2,38,677 crore. The public debt of Rs 83,010 crore constitutes 66 per cent of the total on-budget outstanding debt in FY 2024, including internal debt of Rs 82,300 crore and Rs 710 crore in advances from Government of India—(KNO)

Trending

TOP STORIES ago

Chief Justice visits DCC Ganderbal, assesses measures concerning court management, infrastructure | KNO

TOP STORIES ago

‘Yellow Alert’: Rains, snow lash J&K for 3rd straight day | KNO

TOP STORIES ago

In JK, non-tax power tariff revenue increases by 11% since 2022 | KNO

TOP STORIES ago

CMO Budgam vows legal action for circulating ‘old video’ of SDH on social media | KNO

TOP STORIES ago

SOTTO J&K Delivers Organ Donation Awareness for Senior Citizens | KNO

TOP STORIES ago

Forest Dept provides over 25 lakh Cft of timber to 18,471 beneficiaries in three years | KNO

TOP STORIES ago

Srinagar leads in parks, floriculture; Doda, Kishtwar have none | KNO

TOP STORIES ago

Chronic kidney disease cases double in a decade in J&K: Doctors | KNO

TOP STORIES ago

Over 15.3 crore tourists visited J&K in last 10 years: Parliamentary report | KNO

TOP STORIES ago

Hakeem Yaseen extends warm greetings on Holi | KNO

TOP STORIES ago

MP Mian Altaf visits bereaved family in Qazigund | KNO

TOP STORIES ago

Theft case solved in Gbl, stolen gold worth lakhs recovered: Police | KNO

TOP STORIES ago

22 High Schools without Headmasters in Shopian, reveals RTI | KNO

TOP STORIES ago

Holi celebrated with festive spirit across Kashmir | KNO

TOP STORIES ago

Revenue generation by SFD dips from Rs 480 lakh to Rs 124 lakh in 2 years: Data | KNO

TOP STORIES ago

On 2nd Friday of Ramadan thousands of devotees offer prayers across Kashmir | KNO

TOP STORIES ago

Forests cover 47.52% of land in Doda, 1.88% in Srinagar | KNO

Copyright © 2021