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Ministry of Finance has released installments due in October, 2014 on 9th September, 2014. This includes ₹ 344.10 crore as Special Central Assistance and ₹ 174.60 crore as Non-Plan Revenue Deficit. On 10.9.2014, the Ministry of Finance released ₹ 346.59 crore as Share in Central Taxes and Duties to the Government of Jammu & Kashmir (J&K). All these installments are released in advance in order to bail-out the State Government due to unprecedented situation of flood and Natural Calamity/disaster in the State.
Advance release of central funds for disaster relief enables immediate fiscal support and state recovery operations. The Ministry of Finance advanced scheduled October transfers to Jammu and Kashmir as emergency fiscal support, disbursing Special Central Assistance, Non-Plan Revenue Deficit support and the State's share in central taxes and duties to meet urgent expenditure needs arising from severe flooding and natural calamity.Press 'Enter' after typing page number.