"The SAC meeting scheduled to be held today has been postponed," an official spokesman said without assigning any reason for the move.
As the political deadlock in Jammu and Kashmir continued over government formation, the SAC meeting was scheduled to consider the Budget Proposals for the state for the financial year 2016-17.
The postponing of the SAC meeting comes a day after Union Finance Minister Arun Jaitley told Parliament that the Centre was willing to walk the extra mile for Jammu and Kashmir, fuelling speculations that the PDP and the BJP might be closer to forming the government in the state which is under Governor's rule since January 8.
Governor's rule was imposed in the state a day after the demise of the then Chief Minister Mufti Muhammad Sayeed.
The PDP President Mehbooba Mufti has asked New Delhi to announce state-specific measures, both on the political and economical fronts, ahead of any forward movement by her party on forming the government with the BJP in the state.
The PDP, among other demands, has been seeking return of two power projects from National Hydel Power Corporation (NHPC) to the State.