Full budget likely in June-July
VoA likely to be taken for 6 months
Sanjeev Pargal
JAMMU, Jan 17: Finance Minister Nirmala Sitharaman is likely to present Vote-on-Account (VoA) for Jammu and Kashmir for six months in last session of 17th Lok Sabha beginning January 31 while full budget is likely to be presented in the Parliament after formation of new Government by the end of May.
Sitharaman will take Vote-on-Account for the country on February 1. However, the Vote-on-Account for Jammu and Kashmir which is without Legislature for last five and half years, is also expected to be taken either the same day or the day after, the officials told the Excelsior.
“It will not be a full budget for Jammu and Kashmir in budget session of the Parliament beginning January 31 with President Droupadi Murmu’s address. It will be a Vote-on-Account for six months for Jammu and Kashmir while full budget will be presented by the new Government in first session of the Parliament in June-July,” the officials said.
The last session of 17th Lok Sabha will conclude on February 9 while Model Code of Conduct is likely to be imposed in first week of March with announcement of the Parliamentary polls scheduled to be held in April-May.
According to officials, the Jammu and Kashmir administration has been sounded about presentation of Vote-on-Account only in short budget session in early February for a period of six months when full budget has to be presented. Full budget, as per the officials, will be presented in June-July in first session of the Parliament of next Government along with national budget.
However, there will be no financial problem in Jammu and Kashmir as Vote-on-Account will address financial concerns of the Union Territory, the officials said.
For the Union Territory of Ladakh, approval for the grants will be taken from the Parliament.
On its part, the Jammu and Kashmir administration has completed budget meetings with all departments to ascertain their requirements for presentation to the Union Finance Ministry.
A couple of meetings have already been held between the UT and the Finance Ministry officials.
Budget of the Union Territory of Jammu and Kashmir will continue to be presented in the Parliament till elections to the Legislative Assembly are held. J&K is without Legislature since 2018.
The Government has stated that September 30, 2024 deadline set by the Supreme Court for conduct of Assembly elections in Jammu and Kashmir will be followed in letter and spirit. The deadline was issued by the apex court while upholding abrogation of Article 370 of the Constitution of India.
The Jammu and Kashmir administration is aiming budget to the tune of Rs 1.20 lakh crore for next financial year of 2024-25.
Current year’s budget of Jammu and Kashmir i.e. 2023-24 is worth Rs 1, 18,500 crore while in last fiscal i.e. 2022-23, it was Rs 1, 12,950 crore.
Finance Minister Nirmala Sitharaman had presented J&K’s budget for 2020-21 on March 17, 2020, 2021-22 on March 17, 2021, 2022-23 on March 14, 2022 and 2023-24 on March 13, 2023.
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.
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