J-K Budget proposals to be considered in special SAC meeting

Jammu and Kashmir's Budget proposals will be considered at a special meeting of the State Administrative Council (SAC), scheduled to be held on March 15, a Raj Bhawan source said today.
Governor N N Vohra was briefed about the preparation of the Annual Budget 2016-17 at a meeting attended by B R Sharma, Chief Secretary, B B Vyas, Financial Commissioner, Planning and Development Department and Navin K Choudhary, Commissioner-Secretary, Finance.
P K Tripathi, Principal Secretary to Governor was also present during the discussions, the spokesperson said, adding Vohra was briefed by Financial Commissioner Planning and Commissioner Finance about the salient features of the Budget, including tax proposals.

The Governor directed that before finalising projected allocations, adequate provision must be made to meet the state's share of all Centrally Sponsored Schemes, particularly Crop Insurance Scheme which was announced in the Union Budget, the spokesperson said.
He told the Finance Secretary to rationalise the tax structure, plug existing loopholes, and promote ease of doing business while helping raise additional revenue.
The Governor also stressed on the need for added impetus to agriculture, horticulture, fishery, poultry, animal and sheep husbandry, tourism and power development.