Like our Facebook Page

Early Times Newspaper Jammu, Leading Newspaper Jammu
Breaking News :   Encounter ends after militant killed in Pulwama | India's COVID-19 cases cross 57-lakh mark with 86508 fresh infections in 24 hours | ASI martyred, service rifle looted as terrorists attack CRPF patrol party in Budgam | Despite claims Covid deaths going unabated in Jammu | As cases surge, over dozen localities declared COVID-19 ‘red zones’ in Jammu | ACB takes note of Forest Officer’s fake induction into IFS | Despite being transferred ‘powerful’ DTI not yet relieved | ‘4G may not return to J&K so soon’ | JKMSCL retired employee works at previous place | Uncle, Aunt shame humanity, burn 8 year old child with hot iron | COVID-19 recovery rate in JK gets big boost as 2796 patients recover in one day | BJP Leader Calls Sixth Schedule Demand For Ladakh, ‘Nonsense’ | LG approves regularisation, promotion of over 550 police officers | Corrupt under scanner | The Global Times: Obnoxious headquarter of Chinese Information Warfare | Pointless conflict on farmers’ bills | Unspoken language | Team Jammu releases album “A Tribute to Maharaja Hari Singh” | ShivSena demands COVID treatment under health insurance cover | Horticulture deptt distributes fruit plants | SKS welcomes proposal of satellite colonies for KPs | JKTF Bhalwal Zone condoles demise of Ravinder Kumar | Apni Party organises first public meeting in Kathua | JKPBSC resents non inclusion of Punjabi language | 14 bovines rescued, one arrested | Global leader in Agri science launches group in Jammu | Tournament organized by DYSS continues | NGO welcomes district admin | Munish Gupta asks government to solve problems of people of Sector 14 Shivaji Chowk Guru Nanak Nagar | Admin approves re-allocation of nearly 2,000 posts for Kashmiri Pandits under PM’s package | CAG Raises Major Concerns Over Implementation of Two Flagship Govt Schemes During 2017-2018 | AC approves conduct of elections to vacant Sarpanch, Panch constituencies | Director Horticulture takes stock of departmental activities | AIKS expresses concern over indifferent attitude of JKUT admin toward KPs | Mount Litera Zee School organizes Sankalp-Sammaan Samaroh 2020 | Jammu University organizes Abhivyakti-2020 | DLSA Udhampur organizes webinar on Cyber Crime | Online awareness programme on mediation concludes | Online training programme on “Yoga & Health” commenced at Dulhasti Power Station | Prominent leaders from Christian Community join Apni Party | Court rejects bail of four in NDPS | Shift Sub-Registrar’s office back to Bishnah to avoid inconvenience: Bhardwaj | Humour mills go on overdrive after late night boom in Srinagar | Three dead, 4 injured in Doda road mishap | Jan Abhiyan: Sourabh Bhagat inaugurates library at High School Drabshalla | 06 gamblers arrested , stake money recovered by Police | Security forces launch CASO after firing in Pulwama | Physical fitness is dire requirement in today’s time: Sat | Experts stress for building of earthquake resistant constructions | Admin to encourage actual development initiatives instead of ‘’mere announcements’’: Sinha | BJP councillor shot dead by militants outside his residence in Budgam | Govt orders transfer of three KAS officers, admin Auqaf Islamia | Rigzin Spalbar appeals for boycotting of elections to body | Govt committed to provide best healthcare facilities in times of COVID-19: Advisor Bhatnagar | Villagers in Udhampur trek kilometres to fetch water | Govt employee booked for securing job on fake, fabricated documents | IGP Jammu promotes 137 ASIs as SIs | Illegal structure on forest land demolished | JKNPP criticizes BJP leaders to retain Estate bungalows, security cover | Deaths due to oxygen deficiency deplorable: Rana | Mehbooba Mufti’s daughter approaches Supreme Court for mother’s release | Back Issues  
news details
Government got mere 1.17 percent as repayment to Rs 1,641 crore loans
The mystery behind Cash Starved JK
12/10/2019 10:54:15 PM
Peerzada Ummer
Early Times Report
Jammu, Dec 10: The reasons why the erstwhile Jammu and Kashmir state was cash starved could be gauged by the figures according to which the government has got 19 crores as a repayment to the loans and advances of ` Rs 1,641 crore it has made to various Government Corporations/ Companies.
As per the official documents in possession of the Early Times, total Loans and Advances made by the erstwhile State Government at the end of 2016-17 was ` 1,641 crore. Of this, Loans and Advances to Government Corporations/ Companies, non-Government Institutes and Local Bodies, etc., amounted to ` 1,623 crore. The detailed account of all loans except for Loans under Major Head 7610- Loans to Government Servants etc are maintained by State Government. During 2016-17 ` 19 crore only was received towards repayment of loans and advances out of which ` 13 crore relates to repayment by Tourism Corporation and ` 03 crore by Industries and Commerce. It means the government has not received more than 1.17 percent of the total payment it had made in the shape of loans and advances to Government Corporations/ Companies, non-Government Institutes and Local Bodies.
Furthermore, the documents reveal that in addition to directly raising loans, State Government also guarantee loans raised by Government companies and corporations from market and financial institutions for implementation of various plan schemes and programmes.
Pertinent to mention that these guarantees are projected outside the State budget. During 2016-17, the State Government transferred ` 33.97 crore to the Guarantee Redemption Fund. No amount out of accumulated balance of ` 168.76 crore in the Fund was invested.
Furthermore, as per the documents, the total investment as share capital in public sector undertakings (PSU's) stood at ` 803.74 crore in 38 entities at the end of 2016-17. However, dividends received during the year was ` 45.11 crore (5.61 per cent) on investment from one entity only and no dividend was received from other 37 entities. During 2016-17, investment increased by ` 256 crore and income from dividend decreased by ` 9.02 crore. The major investment was made in Jammu and Kashmir Bank (` 250 crore).
During the financial year of 2016, the fiscal liabilities were to the tune of Rs 44673 crore in the state. The government failed to bring down the deficit in comparison to the gross state domestic product (GSDP) output, hence emerging as a matter of huge concern.
A large chunk of state's revenues goes in the payment of interest on debts as government lifts the money from the Reserve Bank of India at a higher interest rate. In comparison to the GSDP the fiscal liability has been floating between 50-55 percent since past several years.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
Early Times Android App
BSE Sensex
NSE Nifty
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
J&K Govt. Official website
Jammu Kashmir Tourism
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
Train Enquiry
Jammu Kashmir Bank
State Bank of India
Passport Department
Income Tax Department
IT Education
Web Site Design Services
Jammu University
Jammu University Results
Kashmir University
IGNOU Jammu Center