"It is a just demand and long overdue in the light of steep inflation which has taken place during recent years," organisation's chairman Ajay Chrungoo said.
He said the existing cash relief has become grossly inadequate to meet even the minimum requirements.
Currently, each displaced Kashmiri Pandit family receives a monthly assistance of Rs 1,200 per member, with the total amount of relief not exceeding Rs 5,000 per family.
Chrungoo also criticised the Omar Abdullah government for "failing" to provide basic residential amenities to the residents of the Jagti township, which houses nearly 15,000 displaced Kashmiri Pandits.
He expressed solidarity with the inhabitants of the township, who are currently holding a fast demanding better residential facilities.
Meanwhile, State BJP unit also extended its support to the agitating residents today.
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A party delegation led by former State BJP Secretary Bal Krishan Kaul today visited the site of agitation and expressed solidarity with the protesters.
Situated in Nagorta area on the outskirts of Jammu, the 4,200-flat Jagti township was inaugurated last year as part of Prime Minister's special package to provide better housing to the displaced Kashmiri Pandits living in various camps.