Underscoring the importance of financial self-sufficiency for progress, Chief Minister Omar Abdullah today asked the government and the civil society to develop a mindset to work together to realise this goal.

"The hand which contributes and extends financial support is always better than the one which receives it", he said in a function after inaugurating a Toll Plaza here.

The availability of water resources in plenty can be utilised to transform the economy of the state by generating surplus hydro energy, he said.

Omar said that enhancing tax orbit is not the answer to strengthen Jammu and Kashmir's financial position but generation of electricity in huge quantity is only way forward to strengthen the state's financial condition.

"Whatever is our right to receive from the Centre, we should get it with our heads up, but when it is in the shape of concessions and mercies one does not feel elated", he said adding, the total dependence on Central financial support has to be reversed by the joint efforts and determination of the civil society and the state government.

"We have lagged behind in harnessing the hydro electric potential of 20,000 MWs available in the state. Had half of it been realised so far we would have been providing 24x7 electricity to the consumers and industries in the state and selling about 5,000 MWs to other parts of the country", he said.

He said his government has already launched prestigious projects in the state in joint ventures, PPP and IPP modes and the day is not far away when Jammu and Kashmir would achieve the cherished goal of self-reliance.

Omar said that besides focusing on upgradation and improvement of basic facilities across the state, the consolidation of health and education sectors has remained among the top priorities in his tenure.

"We enacted and implemented legislations to reduce the chances of corruption in public service delivery systems, to bring more transparency in administration and strengthen the institutions to empower people and make government answerable before them. Our endeavour in this direction would continue," he said.

The state government was sincerely moving forward to provide good-governance and people-friendly administration, he said.

Expressing gratitude to Union government for financial support to the state and providing Rs 7,300 crore plan grants for the current fiscal, the Chief Minister said that transfer of money from the Centre to the state takes some time.

"There are still Rs 1,900 crore with the Centre which have not been transferred to the state so far. This sometimes create difficulties for the state to carry on financial commitments", Omar said adding, he would take up the issue of early release of this amount with the Prime Minister soon.

Omar said sometimes this kind of situation results in delay in the payments to contractors and others.

He, however, added that the Finance Minister and his team has not allowed this difficulty to impact the transactions and development processes in the state.