Jammu & Kashmir Finance Commission

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Jammu & Kashmir Finance Commission has been set up so that it can act as an arbiter between the state and the central government with regard to the financial matters. The Finance Commission of Jammu & Kashmir also has various other functions.

The setting up of Jammu & Kashmir Finance Commission:

Jammu & Kashmir Finance Commission has been established in the state according to the rules that have been laid down in the Constitution of India, Article 243 (I).

The article states that the governor of the state shall set up the Finance Commission within the period of one year from the start of the Constitution seventy- third Amendment Act, 1992 and after that at the end of each five years. The Finance Commission in Jammu & Kashmir comprises of the chairman and five other members. The chairman of the first Jammu & Kashmir Finance Commission was Mr. Mehmood- ur- Rehman.

The various sectors that receive grants from Jammu & Kashmir Finance Commission are:
  • Elementary education
  • Heritage protection
  • Infrastructure development
  • Prisons administration
  • Police administration
  • District administration
  • Computer training for school children
  • Health services
  • Fire services
  • Public libraries
  • Fiscal administration

The various functions of Jammu & Kashmir Finance Commission are:
  • To act as an arbiter between the central and state governments with regard to matters that relate to finances
  • To transfer the funds that are allotted by the central government for the state
  • To review the economic condition of the various Panchayats in the state
  • To take such steps that help in improving the economic condition of the various Panchayats in the state
  • To allot funds from the Consolidated Fund of the State to the various Panchayats in the state
  • To act as an arbiter between the central and the state government with regard to financial issues
  • To transfer the funds that are alloted by the central government for the state government

The grants received by Jammu & Kashmir Finance Commission

Jammu & Kashmir Finance Commission received grants from the Twelfth Finance Commission worth around ` 2477.28 crores. The Finance Commission in Jammu & Kashmir received this grant during the period of 2006 to 2007.

The state government must promote Jammu & Kashmir Finance Commission:

The state government of Jammu & Kashmir must promote the Finance Commission in the state. This will help in improving the financial condition of the various Panchayats in the state. It will also help in bringing more funds from the center for the state. All these steps will ensure the development of the state.

For further information on State Finance Commissions, please refer to the following sites