PM Modi to announce Rs 75,000 crores for Development in Srinagar

Today in Srinagar which is the capital city of Jammu and Kashmir, the PM Narendra Modi is going to announce a special package worth over Rs 75,000 crores for Jammu and Kashmir itself. After the gap of 8 months the BJP party is going to take charge in the state. According to the sources of Government, the complete details of the package are going to be announced by PM Modi in a Public meeting. This meeting is going to be held at Sher-e-Kashmir Cricket Stadium. This is his fourth visit to the state since the NDA has come into the power at the centre. The package is going to be “over and above” the normal Plan and non-Plan transfers made by the Centre only. The funds would be spent for the development of the state.

PM Modi to announce Rs 75,000 crores for Development in Srinagar

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Meeting is going to be held at Sher-e-Kashmir Cricket Stadium

On March 1st the Mufti Mohammad Sayeed has taken the charge as the Chief Minister of the State. The state has been moving forward in the development even after the occurrence of floods. In the month of July, Jammu and Kashmir Finance Minister Hasseb Drabu has met the Union Finance Minister Arun Jaitley to seek the funds around Rs 1.27 lakh crores. In the month of June the meeting was held by the Central Government in which Jaitley and Drabu has made a detailed presentation on a renewal strategy for Jammu and Kashmir economy. Segment

Package is for to develop the state Infrastructure and all  

The Package is going to be split into five parts that is humanitarian relief, disaster management, social infrastructure, physical infrastructure and development spending.

“The funding is not just for relief and rehabilitation. Spending on infrastructure, both social and physical, is key to the plan. The objective is to generate income and revenues by creating productive assets,” the source said.

The package was confirmed after a meeting in Delhi on 16th October. At this meeting the package was confirmed after the discussion of the overall situation in the state and its development plan. This is the Second biggest amount that is going to be announced by the PM Modi after the package of Rs. 1.25 lakh crores for the Bihar state. By viewing these other States has also demanded for the development. Drabu had put aside Rs 11,246 crores for the building assets and infrastructure development in the state.