J & K government sets Rs 900 cr revenue target from water resources

SRINAGAR: Jammu and Kashmir government has set a revenue target of Rs 900 crore on account of levy from companies using the state's water resources.

As per the provisions of Water Resources Act 2010, the state government has received Rs 475.87 crore as water charges from National Hydel Power Corporation (NHPC).

Under the 2010 Act, the state government imposes water usage charges on all major and medium hydro-electric projects in the state.

State Irrigation and Flood Control Minister Taj Mohiudin said the government has received a sum of Rs 475.87 crore as water usage charges from NHPC.

The minister has also dismissed the news reports suggesting that water usage charges in respect of the Corporation has been or are being waived off.

"In fact, government has set a target of Rs 900 crore as water usage charges this year from NHPC and other companies using water resources of the state," the minister said.

He said the bank statement clears the doubts raised by a section of press on whether the Corporation has actually deposited the money with the state government or not.

The money has been deposited in a separate account opened in the name of Commissioner, Department of Irrigation and Flood Control. Most of the amount was deposited in last four months, beginning July this year, he said.