Drabu welcomes PM’s economic package

Srinagar: Describing the economic package announced by the Prime Minister as TAMEIR (The Aggregative Macro Economic Infrastructure Rebuilding) Plan, Minister for Finance, Dr Haseeb Drabu Saturday said the Rs 80000 crore package will be in addition to around Rs 35000 crore being spent on upgradation of Srinagar-Jammu highway. He said it will be also over and above the Rs 30000 crore normal annual plan assistance for the State.

Welcoming the package, Dr Drabu said the economic package has five components including humanitarian relief, disaster management, social infrastructure and developmental spending.

He said while around Rs 60000 crore, out of the package, have been earmarked for new infrastructure projects in the State sector, around Rs 7000 crore have been earmarked for ongoing projects. He said Rs 8000 crore have been earmarked for humanitarian relief including rehabilitation of the flood-affected.

Dr Drabu said the economic package announced by the Prime Minister is to be spent over next five years and it would not only rejuvenate the flood-hit state economy but create huge job opportunities as well.

Dr Drabu said Prime Minister’s assertion that the announcement of today’s package for J&K is only a beginning and much more is going to come to the State to boost its economy and employment opportunities is a commendable gesture towards the people of Jammu and Kashmir.

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