Rural, Urban Local Bodies may get increased grants
Parl to adopt 4th consecutive budget of UT
Sanjeev Pargal
JAMMU, Feb 23: Annual budget of Jammu and Kashmir for next financial year of 2023-24 will be presented in second half of Parliament session beginning March 13 with March 16 and 17 being projected as tentative dates. Presentation of budget will be preceded by two high-level meetings which are likely to be chaired by Finance Minister Nirmala Sitharaman and the Finance Secretary.
Official sources told the Excelsior that the Finance Department of Jammu and Kashmir Government is almost ready with the budgetary proposals which will be discussed by the Finance Secretary followed by the Finance Minister with top UT officials in New Delhi in first week of March before presentation of the budget.
“Dates tentative scheduled for presentation of the budget are March 16 and 17,” sources said. However, they added that the budget presentation could be changed if the Opposition persists with disruptions on the issues which they took up in first part of budget session.
First part of budget session ended on February 13 amidst repeated disruptions on Adani issue and will resume on March 13 after month-long break.
Sources said a day each are likely to be fixed for discussion on Jammu and Kashmir budget in Lok Sabha and Rajya Sabha. The budget has to be approved by the Parliament before March 31.
Already the Finance Department officials have held series of meetings with top officials in the Union Finance Ministry to discuss budgetary proposals of the Jammu and Kashmir administration.
“The proposals will be given final touch in two meetings by the Union Finance Minister and the Finance Secretary before being approved,” sources said.
This will be fourth consecutive budget of Jammu and Kashmir which will be presented in the Parliament in the absence of Legislative Assembly in the Union Territory. Annual budgets of J&K for 2020-21, 2021-22 and 2022-23 were also presented in the Parliament.
The budget for 2019-2020 was adopted by the then State Administrative Council (SAC) here while budget of 2018-19 was last to be presented in the Assembly of erstwhile State of Jammu and Kashmir by then Finance Minister Dr Haseeb Drabu before the Government collapsed after withdrawal of support to Mehbooba Mufti-led coalition Government by the BJP in June 2018 followed by withdrawal of special status of erstwhile State of J&K on August 5, 2019 by the Central Government and its bifurcation into two Union Territories.
“Till there is an elected Assembly in Jammu and Kashmir, the UT’s budgets will continue to be presented in the Parliament,” sources said.
During current financial year of 2022-23, Jammu and Kashmir was granted Rs 1,12,950 crore worth budget and for next fiscal year of 2023-24 it could go up to Rs 1.2 lakh crore.
While presenting general budget for 2023-24 in the Parliament on February 1, Finance Minister Nirmala Sitharaman had announced Rs 35,581 crore worth Revenue grants for Jammu and Kashmir and Rs 5958 crore for the Union Territory of Ladakh.
The Central grants in the Revised Estimates for ongoing financial year of 2022-23 were hiked by about Rs 9000 crore and pegged at Rs 44538.13 crore.
The Government is also expecting significant budgetary allocations for both urban and rural local bodies though spending by the District Development Councils (DDCs), Block Development Councils (BDCs) and Panchayats remain an area of concern. The Central and J&K Governments have been giving special focus to DDC, BDCs and Panchayats ever since elections were held to them.
“Healthy grant for DDCs, BDCs and Panchayats will lead to further development in rural areas,” sources pointed out.
The Union Home Ministry has major say in budget of the Union Territories. This is more so in cases of the Union Territory of Jammu and Kashmir as it has to spend a lot on Security Related Expenditure (SRE) due to three decades long militancy.
“In view of financial discipline maintained by Jammu and Kashmir, the Finance Ministry is expected to increase the budget for next financial year as compared to current fiscal year,” sources said but added that the hike would be nominal as J&K’s budget has already crossed Rs one lakh crore for the past three years.
Describing around Rs 1.2 lakh crore worth budget for Jammu and Kashmir as “quite significant”, sources said this will help in boosting infrastructure development across the Union Territory.
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