Budget unveils special package of ₹17k crore for Jammu and Kashmir

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Budget focus on Jammu and Kashmir ahead of Assembly elections

By Our Special Correspondent

New Delhi, July 23: Union Minister for Finance Nirmala Sitharaman has provided for a special package of ₹17,000 crores for Jammu and Kashmir. Sitharaman separately presented the budget for Jammu and Kashmir in the Lok Sabha on Tuesday.

The own revenue of Jammu and Kashmir has been estimated at ₹21,860 crore. “The Union Government has agreed to provide for the salary, pension and other costs of Jammu and Kashmir Police for which an allocation of ₹12,000 crore has been made in the annual budget,” said the office of the lieutenant governor of J&K in a media statement.

In addition, a lump sum special grant of ₹5,000 crore as additional central assistance is being provided in the current financial year.

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“As a result of this ₹17,000 crore of special package, the fiscal deficit to GDP ratio of Jammu and Kashmir will reduce to three per cent in the financial year 2024-25. This special package will be part of the overall central assistance which is estimated at ₹67,133 crore during 2024-25,” added the office of the LG in the statement.

The J&K LG Manoj Sinha said: “This unprecedented assistance would lead to complete improvement in fiscal position enabling the Government of Jammu & Kashmir to work towards fulfilling the developmental needs and aspirations of the people, while maintaining stable fiscal health.”

He said that the budget of Jammu and Kashmir for 2024-25 makes provisions for the ongoing initiatives for infrastructure development, sustainable agriculture, new industrial estate, PRI level works, employment generation, developing tourism, and social inclusion.

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The budgetary estimate for this financial year 2024-25 is about ₹1,18,390 crore, including revenue expenditure of ₹81,486 crore and capital expenditure of ₹36,904 crore.

Major Outlays under Budget 2024-25

₹9400 crore for subsidy and budgetary support for purchase of power from the National grid and the Power purchase agreements with power generation companies.
₹3983 crore for construction of roads & bridges under PMGSY, CRIF, NABARD loan schemes & Bridge scheme.
₹1875 crore for rejuvenating school education infrastructure and services through funding of Samagra Shiksha Abhiyan (SSA), career counselling services, and setting up of modern schools for quality education with PM SHRI funding
₹1808 crore for strengthening decentralized governance by providing for local area development works of PRIs, ULBs, BDCs and DDCs.
₹1714 crore provisioned for tap-water connectivity for rural areas under Jal Jeevan Mission.
₹1484 crore for completion of Smart City projects in Srinagar and Jammu cities, construction of infrastructure projects under Jhelum Tawi Flood Recovery Project (JTFRP), construction of sewerage treatment plants in urban areas, and development of new townships for housing.
₹1430 crore for comprehensive social security coverage under assistance schemes for Old Age, Widow, and Disabled, and for the women empowerment interventions of Ladli Beti and Marriage Assistance schemes.
₹1317 crore for strengthening infrastructure and services in the health sector under National Health Mission mechanism.
₹1104 crore for construction of own houses of houseless poor families in rural areas with PM Awas Yojana- Grameen support
₹1068 crore for Provision for salaries, food grains, cash assistance for Kashmiri migrants and construction of transit accommodation for Kashmiri migrant employees.
₹1021 crore for transforming agriculture and allied sectors of the UT through the Holistic Agriculture Development Programme (HADP), with the five-year outlay of Rs 5013 crore, including provisions for IFAD funded J&K Comprehensive Investment Plan (JKCIP) and development of cold storage and high-density plantation.
₹923 crore for development and upgradation of Industrial Estates, for providing GST refund incentive and incentives as per the Industrial Policy for industrial units, promotion of trade through JKTPO’s events for boosting investment and employment
₹776 crore for equity support for the hydro-electric projects at Ratle, Kwar, and Kiru, which would provide stable revenue source and cheaper power.
₹586 crore for Universal health insurance coverage for all families of Jammu & Kashmir.
₹500 crore for providing of drugs, machinery and equipment for health institutions.
₹475 crore for upgradation infrastructure of colleges and universities and for rollout of the National Education Policy.
₹518 crore for promotion of Tourism, development of new tourism destinations and new circuits, construction of ropeways, conduct of Shri Amarnath Ji Yatra and film festival and promotion policy.
₹445 crore for improving sanitation and waste disposal facilities, IHHLs, CSCs & achieving ODF+ status in the rural areas.
₹390 crore for flood management projects of river Jhelum.
₹405 crore for schemes for self-employment, Start-ups, Seed Capital Fund, implementation of Mission Youth schemes, and support to self-help groups for generation livelihoods.
₹179 crore for construction of security related infrastructure, police housing colonies, bunkers in border areas and installation of CCTVs in police stations.
₹150 crore for installation of solar rooftops and solar pumps.
₹335 crore for creation of sports infrastructure, heritage preservation, promotion of festivals and theatre and development of Infrastructure and initiatives for welfare of Tribals, like tribal hostels, milk villages, nomad shelters, etc.
₹100 crore for Capital support for revitalization of Regional Rural Banks (RRBs) and Cooperative Banks.
₹500 crore for MGNREGA works at Gram Panchayat level.
₹401 crore for development of Dal lake, afforestation, wildlife management, and preservation of protected areas.