Centre today announced an eight-point formula to end the present unrest in Jammu and Kashmir. The formula was announced by the Home Minister P Chidambarm after a meeting of the Cabinet committee on Security in New Delhi this evening.He said a Group of Interlocutors led by an eminent person will be appointed soon. They will hold a sustained dialogue with all sections of the state and review deployment of security forces in the Valley, especially in Srinagar. Unveiling a package of measures Chidambaram said the state Government will be advised to review the notification of areas as Disturbed Areas. In a bid to reach out to the masses, the Centre advised the Jammu and Kaskmir government to release students and youth who have been arrested or detained for stone pelting and similar violations of law during the unrest, and withdraw all charges against them. He said that state government has also been advised to review all cases of detenus held under Public Safety Act and withdraw detention orders in appropriate cases.Chidambarm said the state government has been asked to immediately convene a meeting of the Unified Command. This is to review the deployment of the security forces in Kashmir valley, especially at Srinagar, with particular reference to de-scale bunkers and check points in the summer capital and other towns. He announced centre's grant of ex-gratia of five lakh rupees to each family of those killed in disturbances in Kashmir since June 11. An amount of 100 crore rupees fund will be provided for renovation of schools, colleges and other institutions and a task force will be appointed to study the infrastructure projects in the state.He said that the decisions were taken after it reviewed the situation in the Valley and considered the report of the recent visit of the all-party delegation to state. Welcoming Centre's Kashmir Formula,the Jammu and Kashmir Chief Minister Omar Abdullah said he will convene a meeting of the Unified Command this week and review deployment of Security forces in the State. He said that after examining the present security scenario he will try to reduce the footprint of security forces. He, however, said that re-deployment will be done in gradual steps. On the appointment of interlocutors Omar Abdullah said that it was a long felt need to start a political solution to the issues pertaining to the state. He said he will carry all shades of political opinion with him. PDP spokesperson Nayeem Akhtar also welcomed the centre's initiative saying it is a good beginning. But, he said, more needs to be done to regain the trust of people. He said the steps announced by Chidambaram should lead to more confidence building, which will result in the revival of the 2003 peace process. He said, the people should feel relief after these measures and their sufferings like facing daily curfew should come to an end.Congress Party spokesperson Manish Tiwari called it a holistic measure to engage with the political process in the state.BJP Spokesperson Prakash Javdekar, however, said that the solution arrived at was inadequate.