JAMMU, Nov 29: As the Jammu and Kashmir government’s pre-budget discussions with different departments are already underway to firm up budgetary proposals for 2025-26 and finalise revised estimates for 2024-25, the first budget of the newly elected government will focus on development, employment along with women and youth-centric schemes.
Official sources said that as the first session has ended in Srinagar, the government has started preparations for the first budget for which the guidelines have also been issued.
A week-long budget session is expected to be held in the middle of January next year.
“If the supplementary budget is tabled, the people of Jammu and Kashmir will get the benefits of announcements from the financial year itself but in case of an annual budget to be presented for the next financial year people friendly schemes and offers will be introduced,” they said.
Sources further revealed that the budget will not only focus on employment, but provisions will also be made for the infrastructure across the Union Territory along with free electricity, announcements like pension, LPG cylinders, and relief from unscheduled power cuts.
“The first budget of the Omar Abdullah led Jammu and Kashmir government is to be youth and women-centric along with the development of the Union Territory,” they said adding that employment in various sectors will also be the key highlights of the budget.
The work is also in progress with emphasis on production with free 200 units of electricity to eligible families that can be announced on priority, adding they said, “to make Jammu and Kashmir self-reliant in power generation, stress will also be laid on accelerating four mega hydroelectric projects with 3014 MW capacity.”
However, monthly relief to economically weaker women, distribution of LPG cylinders, and ration annually, are also expected to be listed in the budget, sources said.
Sources said to strengthen the agriculture and horticulture sector and create employment opportunities, modalities are being worked upon vis-a-vis government’s focus on the health sector with a possibility of announcement of increasing related facilities and increase in seats by focusing on medical education.”
The tourism industry, accelerating the development of industrial areas, and setting up new enterprises is also expected to be a priority in the budget of the new government, they added.
The pre-budget discussions are already underway and this will be for the first time after a gap of six years that Jammu and Kashmir’s budget would be presented in the Assembly of the Union Territory.
During the pre-budget meetings, the J&K Government will be holding consultations with 36 administrative departments before concluding the exercise on December 20.
Ahead of the meetings, the Finance Department has directed departments to submit the Action Taken Reports (ATRs) on budget announcements, if any, besides the complete details of the establishment budget and Fiscal Resource and Budget Management (FRBM).
After the imposition of central rule in J&K in 2018, due to the absence of the Assembly, J&K’s budget was presented in Lok Sabha. (Agencies)
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