Millennium Post

FinMin releases advance tranche of Rs 856 crore for flood-hit J&K

The Finance Ministry on Friday said it has released in advance the installment worth Rs 856.29 crore in October to Jammu and Kashmir to help the state government deal with the unprecedented situation of flood and natural calamity.

‘The Ministry of Finance has released installments due in October, 2014 on 9 September. This includes Rs 344.10 crore as Special Central Assistance and Rs 174.60 crore as non-plan revenue deficit.

‘On 10 September, 2014, the finance ministry released Rs 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,’ the finance ministry said in a statement.

Meanwhile, telecom services in the flood-hit Kashmir Valley are being normalised slowly with BSNL restoring around 80 per cent of the affected network. Other private players including Airtel, Vodafone, Idea Cellular, Aircel and Reliance Communications (RCom) have also restored their network in various parts of the state ravaged by the floods.
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