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SAC approves Rs 88,911 cr state budget

Jammu, Dec 15:Devised to give a massive push to the public infrastructure, Rs 88911 crore state budget for the fiscal 2019-20 was approved by the State Administrative Council (SAC) headed by Governor Satya Pal Malik.

Advisors to the Governor, K Vijay Kumar, Khurshid Ahmad Ganai and Kewal Kumar Sharma, Chief Secretary BVR Subrahmanyam and Principal Secretary to the Governor UmangNarula were present at the specially convened SAC meeting here this evening.

Principal Secretary Finance, Navin K Choudhary gave a detailed presentation to the SAC on the Revised Estimates for 2018-19, Budget Estimates for 2019-20 and other key features of the budget.

The SAC was informed that the focus of the Budget 2019-20is to give a big push to tangible developmental initiativeswith Rs 30469 crore earmarked for building public and social infrastructure in addition to Rs 3631 crore already provided under Languishing Projects Programme.

SAC observed that investment in infrastructure is the growth driver for economy and has a cascading impact on all sectors including employment generation and socio-economic development.

According to Chief Secretary, BVR Subrahmanyam, the Budget 2019-20 is structured around three fundamental objectives of Building Infrastructure, Building Institutions and Building Systemsunder the Government’s overarching Mission for Delivering Development and Mission on Good Governance.

He said the Budget is aimed at driving the state’seconomic growth through multifarious initiatives with thrust on substantive developmental and welfare measures.He said the investment in key developmental and social sectors has been enhanced substantively to leave a visible impact on the ground.

Chief Secretary said to build adequate capacities in the Line Departments for spending huge developmental funds, it has been decided that the line departments would be adequately strengthened by way of providing consultants, setting up of dedicated DPR preparation cells and Project Implementation Agencies and IT Consultants etc.