JK Finance Minister presents Budget-2012-13
In his about 80 minutes long budget speech, Rather said that during the next year’s budgetary proposals the main emphasis has been on to accelerate the momentum generated so far in the process of socio-economic and welfare of the people adding that the ultimate aim is to bring the major indexes of development of our state at par with All India averages.
JK Finance Minister in his speech said that the current financial year has been witness to the consolidation of peace and order in our state. The number of tourists, who visited
He said that the Eleventh Five Year Plan is concluding on 31st March 2012. The next financial year shall be the first year of the Twelfth Five Year Plan. The Planning Commission of India is engaged in the process of finalizing its Mr Rather said that twelfth Five Year Plan document and so are we. It is being hoped that this document shall significantly depart from the current Five Year Plan in its economic strategies. Emphasis on “Faster, Sustainable and More Inclusive Growth” has been clearly spelt out in the Approach Paper, unfolded by the Planning Commission. The contours of our successive annual plans shall become clear only after the Twelfth Five Year Plan document takes its final shape. Nevertheless, we hope that the finalization of the next year’s annual plan for our state shall be taken up by the Planning Commission of India in the coming few months.
At the national level, there has been a setback in the process of economic revival due to deterioration in the global economic scenario. It will cast its shadow on the national approach to the plan process. We may also be affected indirectly. However, in our State, we start with the advantage of the consolidation of peace and economic growth. Building further on this consolidation, we intend to incorporate new strategies in our next year’s plan of action. We are hopeful that our suggestions shall receive due attention of the Planning Commission at the time of finalizing our plan.
We have maintained our journey on the path of structural reforms and sound management of State finances through the last three years. These are yielding results now. We are determined to continue our march towards a better future with renewed vigour.
He said that ,I would like to submit here that the three previous budgets presented by me before this August House, were much more than mere statistical statements of income and expenditure. They were reflective of a pre-meditated and progressive plan of action to trigger, stimulate and sustain socio-economic growth and ensure the welfare of the people of our state. All these action plans were conceived, formulated and executed by the government under the able, determined and courageous guidance of our young, energetic and dynamic Chief Minister Omar Abdullah.
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