J and K Assembly passes historic State Finance Commission Bill

Srinagar, Aug 4 (UNI) Jammu and Kashmir Legislative Assembly today passed the bill to provide for ensuring equitable development of all regions in the state by equitable distribution of resources available for development and making good backlog of development and employment at the regional and district levels in the state of Jammu and Kashmir.

Explaining the benefits of early passing of the bill by the legislature, the Chief Minister Ghulam Nabi Azad said that it would provide ample time to the government to constitute the Finance Commission provided under the bill and address the demands and aspirations of the people for equitable distribution of resources and making good backlog on account of development and employment.

He said there is parliamentary practice for passing the Bills in one day when the subject matter of the Bill is of urgent nature and is in the public interest.

Explaining the objects and reasons for the bill, Deputy Chief Minister Muzaffar Hussain Baig said that it has been felt expedient to place focused attention on sustained and equitable development of all regions of the state by ensuring inter-alia equitable distribution of resources amongst such regions for development.

He said State Finance Commission provided under the bill, shall also ensure that backlog of development and employment at the regional and district levels is made good within a specified timeframe.

He said with a view to achieving the above objective in accordance with the aspirations of the people, it is imperative to establish a State Finance Commission with statutory status for the entire state of Jammu and Kashmir.

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