J&K CM announces setting up of Chenab Valley Development Fund

Jammu and Kashmir government today announced setting up of Chenab Valley Development Fund (CVDF) to channelise investments towards environment protection, soil conservation, social uplift and employment generation in the hilly region.
"Resources for Chenab Valley Development Fund would be mobilised by various means with two per cent to be chipped in by hydroelectric companies operating in the region. Besides, there will be contribution of state government as well," Chief Minister Mufti Mohammad Sayeed said.
He was speaking at District Development Board meetings of Doda and Kishtwar districts here today.
The meeting was informed that plan allocation for Doda for 2014-15 fiscal year was Rs 87.06 crore, including Rs 39.20 crore revenue component.

For the current fiscal, the CM announced an allocation of Rs 156.11 crore, all of it being capital component. It marks an increase of 179 per cent over last year's plan.
Similarly for Kishtwar, the allocation for 2014-15 fiscal year was Rs 69.86 crore including revenue component of Rs 26.30 crore. For the current fiscal, Sayeed announced an allocation of Rs 115.35 crore for the district which is a full capital component.

The Chief Minister also announced setting up of Skill Development Institute of international standards in Chenab Valley area to make qualified manpower available for the power projects.
He said the detailed project report for the Skill Development Institute should be prepared with 10 days so that work on the project could be started within a month.

These measures would go a long way in providing succor to the people of the region, especially the youth, Sayeed said.
"Our Government is committed to the development of the Chenab region as the area has very peculiar problems which need to be addressed in a focused manner," he said.