The move was necessitated after imposition of governor's rule in the state following collapse of the government led by PDP chief Mehbooba Mufti.
"Immediately after receiving President of India's approval, Governor N N Vohra issued the proclamation to impose Governor's Rule in the state under section 92 of the Constitution of Jammu and Kashmir today," a Raj Bhawan spokesman said.
"Now, therefore, in exercise of powers conferred by Section 92 of the state Constitution and of all other powers enabling me in that behalf, and with concurrence of President of India, I hereby proclaim that I assume to myself all the functions of government of the state and all powers vested in or exercisable by anybody or authority (other than the powers vested in or exercisable by the high court) in the state," the proclamation read.
National Conference (NC) leader Omar Abdullah has called for immediate dissolution of the Assembly and holding of fresh elections in the state.
It is for the fourth time that Jammu and Kashmir was placed under the Governor's rule in the last one decade.
The BJP stunned Mehbooba Mufti last afternoon after it pulled out of the over three-year-old ruling coalition with the PDP in the state.
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