First installment of Rs 80,000 crore to be released in 10 days

First installment of Rs 80,000 crore to be released in 10 days

Jammu, December 21: If highly placed sources inside J&K ministry are to be believed, the first installment of Prime Minister’s financial package of Rs 80,000 crore to the state is to be released by December end.

The installment will be worth 1,200 crore rupees and the Union Finance Ministry is going to release funds before December 31. The remaining installment will also be released in a quick series after the money is disbursed among the flood victims, as promised by the Prime Minister.

The Prime Minister’s financial package of Rs 80,000 will be used to rehabilitate the victims of devastating floods that shattered the valley in September 2014. The floods hit the economy of the state in a big way. People lost homes and business. Those who lost homes or whose houses were partially damaged during floods will be first on the priority list of the government.

Pertinently, the developmental package was released for all the three regions of the state at a mega rally in Srinagar on November 7. It covers primarily the flood victims, infrastructure development and connectivity. “It’s a beginning and more will follow,” the Prime Minister had said during the rally.

The sources further said that Prime Minister has announced the package only after discussing and planning every aspect and release of the money will be made only after working out even the minutest detail.

The centre will also keep a check on the rehabilitation work done by the state government. The Prime Minister’s Office has been assigned this task of monitoring the utilisation of money given to the state under the package.

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