Srinagar, Oct 31: Welcoming the fresh peace proposals initiated by India to normalise relations with Pakistan, Jammu and Kashmir finance minister Muzaffar Hussain Beig said the proposed bus service between Srinagar and Muzaffarabad would have a very good impact on the economic condition of the state. "Opening of Rawalpindi road would not only bring about a revolution in the minds of the people but would also the pave way for an economic revolution in the state," Beig said here today.

The finance minister said the state has to make a whopping expenditure of Rs 1800 crore per year on purchase of power and is getting back only Rs 450 crore, he said, adding if the people pay even for one-third of their electricity consumption, the state government can tide over. Bureau Report