"The Rangarajan Committee has recommended certain hydroelectric power projects be returned to the state free of cost. We reiterate this demand and request that requisite compensation to NHPC for such projects be paid by the Central government," he said addressing the joint meeting of 14th Finance Commission and state government officers here.
The Chief Minister made a strong case for raising free power quota from existing 12 per cent to 30 per cent in all Centre sector Hydroelectric Projects (HEPs) in the state.
Welcoming Chairman Y V Reddy and the members of the 14th Finance Commission, Omar expressed the hope that the Memorandum submitted by the state government to the Commission will fully depict the financial difficulties of the state.
"We in Jammu and Kashmir have passed through difficult times and faced daunting challenge of reconstruction of an insurgency battered economy.
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"Also since inclusive and equitable development of the three regions of the state stands at the core of our government's agenda, the delivery of basic services and public goods across the diversity and remoteness of the State requires generous and sympathetic financial support," he said.
The Chief Minister also spoke on the increase in expenditure on security related aspects, including state during the last about 25 years and underlined the need for the Centre compensating the state fully on this account.
The Chief Minister made the mention of the state's initiatives to harness vast hydel power potential to upgrade State's financial position.