"We cannot to be forcing them to take a decision tomorrow," a bench comprising Chief Justice H L Dattu and Justice A K Sikri said.
"Appropriate decision will be taken by the Finance Ministry and the Planning Commission," the bench said in a brief order.
The state government has demanded central grant of Rs 44,000 crore for rehabilitation of flood victims. Centre has announced over Rs 1,700 crore assistance to the state to help the flood victims.
"You (State) should be in a position to tell us as to what has been done so far," it said.
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Meanwhile, the court asked the state government to ensure that there was no shortage of warm clothes and food items for the victims.
During the hearing, senior advocate and Jammu and Kashmir National Panthers Party chief Bhim Singh said that there was lack of medicines and medical equipments in hospitals in the state.
Earlier, the Election Commission had told the apex court that its Model Code of Conduct will not come in the way of ongoing relief and rehabilitation work for the flood victims in the state which is going to polls in five phases from November 25.