- Approx. 3000 Cr Proposed For Road Connectivity
- 1000 Cr For Old Aged,Widow And Disabled pensions
New Delhi- Finance Minister Nirmala Sitharaman on February 5 proposed an Interim Budget of Rs 1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir.
The interim budget of Jammu and Kashmir for 2024-25 provides for the ongoing measures and schemes as follows – 2959 Cr have been provisioned for tap-water connectivity for rural areas under Jal Jeevan Mission with Rs 532 crore as UT Share; 934 Cr for transforming agriculture and allied sectors of the UT through the Holistic Agriculture Development Programme (HADP), including provisions for IFAD funded J&K Comprehensive Investment Plan (JKCIP); 1907 Cr for rejuvenating school education infrastructure and services through funding under Samagra Shiksha Abhiyan;Provision of improving road connectivity with 1683 Cr for PMGSY roads, 300 Cr for CRF roads, and 1000 Cr NABARD scheme;1313 Cr for strengthening decentralized governance by providing for local area works of panchayat and urban local bodies;1271 Cr for strengthening infrastructure and services in the health sector under National Health Mission mechanism;1093 Cr for rural housing under PMAwasYojana-Grameen scheme; and 1000 Cr for comprehensive social security coverage for Old aged, Widow and Disabled pensions by saturation approach.
In addition, 660 Cr have been proposed for J&K’s equity for in the hydro electric projects at Ratle, Kwar, and Kiru, which would provide stable revenue source and cheaper power; 505Cr for timely procurement of machinery, equipments,prosthetic aids and drugs in Health sector through the dedicated corporation; 500 Cr for capitalization of the banks, including Cooperative Banks, Rural Banks, J&K Bank, etc; 450 Cr for infrastructure of new Colleges and Universities as per NEP vision; 430 Cr for women empowerment intervention ofLadliBeti and Marriage Assistance; 400 Cr for construction of Transit accommodations for Kashmiri Pandit employees; 400 Cr for development of Industrial Estates and related infrastructure;370 Cr under Swachh Bharat Abhiyan (Urban) scheme; and 390 Cr for Flood Management Project of River Jhelum
For GST reimbursement to ensure timely reimbursement of the claims 450 Cr have been proposed; 272Cr for DDC/BDC grants improving local governance at district and block level;174 Crfor development of model schools under PM-Shri scheme;150 Cr for developing rooftop solar and other avenues of new and renewable energy;140 Cr for creation of Sports Infrastructure;100 Cr for conclusion of World Bank funded Jhelum Tawi Flood Recovery Project;100 Cr for Mission Youth programmes for education, skilling, and employment.
In the budget presented 100 Cr for heritage preservation have been mentioned; 91 Cr for new tourism destinations, new circuits, Sufi circuit and identified religious circuits, ropeways, highway resting placesand promotion of Golf; 70 Cr under infrastructure for welfare of tribals for construction of Tribal Hostels/Milk Villages/ Nomad Shelters/Libraries for Gujjars; 100 Cr for sewerage projects in urban areas, ₹ 70 Cr for development of new Townships and affordable housing and ₹ 50 Cr for Dal development; 40 Cr for Tourism promotion, ₹15 Cr for the festival promotion and for promotion of cinema/ threatre; 40 Cr for meeting incentives as per the provisions of the Industrial Policy and Start-ups; 15 Cr for trade promotion through J&K TPO; and100 Cr for Youth startup/Job fairs/employment fairs.
The interim budget provides for 30 Cr for establishment of cold storage and ₹ 30 Cr for high density plantation; 80 Cr for establishment of DDC/BDC/PRI accommodation and offices as also for security arrangements of DDC/BDC/PRI representatives; 59Cr for construction of Police Housing colony and relief and rehabilitation; 45Cr for construction of Bunkers and for digitization and CCTVs in Police Stations; 30 Cr for improving Quality in Schools, School Infrastructure, for Career Counseling and for introduction of additional Streams in Schools; and 5 Cr for replacement of old fleet in transport sector.
The budget envisages a fiscal deficit of Rs 20,760 crore and a 7.5 percent growth in gross state domestic product (GSDP). The capital expenditure for the fiscal has been proposed at Rs 38,566 crore, which is 14.64 percent of the GSDP. The revenue expenditure is expected to be Rs 80,162 crore, and the revenue receipts for the next fiscal stood at Rs 97,861 crore.
Total receipts in respect of the proposed “Vote on Account” for 2024-25 are estimated at Rs 59,364 crore, excluding the provision for ways and means advances of Rs 16,568 crore. These receipts include Rs 48,930 crore as revenue receipts and Rs. 10,434 crore as capital receipts.
“The total gross receipts in respect of proposed “Vote on Account” for 2024-25 are estimated at Rs 75,932 crore, including the provision for ways and means advances of Rs 16,568 crore,” the interim Budget 2024 for Jammu and Kashmir read.
Parliament’s approval has been sought only for Rs 75,932 crore, including the provision for ways and means advances of Rs 16,568 crore. The Union Territory’s full budget will be presented once the new government is elected after the conclusion of the 2024 general elections.
According to FM Sitharaman, the crucial reforms undertaken in 2019 enabled “path-breaking” measures by the Union Territory Government to decentralise governance structure, promote inclusive development, upscale revenue generation and step up infrastructure development.
“The government is maintaining law and order to ensure security while simultaneously implementing initiatives for economic and social development. The Government has adopted a policy of zero tolerance against terrorism,” she pointed out.
Security forces are taking effective and continuous action in countering terrorism. Due to the effective measures and efforts taken, the security scenario in Jammu and Kashmir has significantly improved, Sitharaman added.
The interim budget for 2024-25makes provisions for the ongoing initiatives for infrastructure development, sustainable agriculture, new industrial estate, PRI level works, employment generation, developing tourism, and social inclusion. During preparation of the interim budget proposals, consultations were held with all the Departments and various stakeholders to provide for ongoing initiatives and arrive at realistic budgetary numbers. For finalizing expenditure proposals, assessment of financing needs of infrastructure projects, social and economic measures undertaken by Departments was undertaken.
The budgetary exercise focused on the imperative of advancing the cause of the greater collective good within the realistically realizable resources. While the budgetary estimate for the next financial year 2024-25 is about 1,18,728 Cr, the UT Government has proposed the Vote on Account for 59,364 Cr.
The two Appropriation Bills on the Supplementary Demands for 2023-24 and Vote on Account for 2024-25 of the UT Government are likely to be considered by the Lok Sabha and Rajya Sabha during 7th to 9th February 2024.
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