14th Finance Commission: GoI releases Ist Instalment of Rs 186 Cr to Finance Deptt

KL NEWS NETWORK

SRINAGAR

Following the recommendations of union fourteenth finance commission, the government of India has released an amount of Rs 186.98 Crore to J&K government.

Top sources disclosed to Kashmir Life this mid night that the amount shall be utilised for the Panchayati Raj system for undertaking basic services in villages, sewerage, roads etc.

“The amount has been transferred in the account of state finance department,” the sources said adding, “on Thursday, state rural development department wrote a letter to finance department to release this amount so that it can be further processed for release to Panchayats.”

The sources further disclosed that the second instalment of Rs 186.98 Crore will be released in October.

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