Kashmir budget promises to transform 'economic landscape'

Jammu, March 12 (IANS) Jammu and Kashmir Finance Minister Abdul Rahim Rather presented a zero deficit budget for the financial year 2010-2011 in the state legislative Friday.

While presenting the Rs.38,258 crore budget, the finance minister said the "thrust of the government is to transform the economic landscape of Jammu and Kashmir".

In this regard, he said the government would generate an additional revenue of Rs.3,858 crore, especially by collecting power tariffs. The state is also expecting huge funding from the central government to launch new development schemes in Jammu and Kashmir.

The minister also spoke of promoting agriculture and horticulture. He said that incentives like soft loans and subsidies would be given to farmers to purchase tractors and other latest tools needed to expand or boost their ventures.

The minister reiterated the government's commitment to pay the Sixth Pay Commission arrears to state government employees, provided sufficient resources are available, to meet this demand.

"The other option before us is to get money from the central government. Chief Minister Omar Abdullah has taken up this matter at the highest level with the federal government," the minister said, while appealing to the protesting employees to shun strikes.

"Nothing would come out of the strikes, because strikes do not generate resources," Rather said.

More than 450,000 state government employees went on strike Tuesday demanding payment of arrears they say the government owes them because of higher salary scales announced by the Sixth Pay Commission. They also want the retirement age to be raised from 58 to 60.