Welfare measures likely in view of Assembly polls
*Rs 1.18 lakh cr worth budget expected
Sanjeev Pargal
JAMMU, July 14: Full budget of the Union Territory of Jammu and Kashmir will be presented in the Parliament few days after general budget on July 23 and is expected to be the tune of Rs 1.18 lakh crore with major focus on development, agriculture and horticulture sectors. As Assembly elections in the UT are due in September, some welfare measures for the people in the budget are expected.
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Interim budget for the UT was presented by Union Finance Minister Nirmala Sitharaman in the Parliament on February 5 which was to the tune of Rs 59,364 crore while full budget is expected to be around Rs 1.18 lakh crore almost equal to what it was for the last financial year of 2023-24.
As exclusively reported by the Excelsior, the budget of Jammu and Kashmir Police is expected to be included in the budgetary grants of the Union Ministry of Home Affairs benefiting police a lot in its efforts to further modernize the force.
Budget session of the Parliament will start on July 22 and conclude on August 12. Sitharaman will present Union budget in the Parliament on July 23. The budget of Jammu and Kashmir is expected to be tabled in the House after the general budget though a final date will be announced after commencement of the budget session.
The Finance Department of the UT Government has already completed budget meetings with different departments to ascertain their requirements. Various other formalities for the budget are being completed.
The Union Finance Ministry officials are expected to meet the Jammu and Kashmir top officials especially from the Finance Department before finalization of the budget.
The budget of Jammu and Kashmir has to be presented in the Parliament in the absence of elected Government.
As Assembly elections in Jammu and Kashmir are due in September, the Government could announce certain welfare measures for the people in the budget. As per the Supreme Court direction of December 11, 2023, the Assembly elections have to be held in the Union Territory before September 30 this year.
If held, this will be after nearly 10 years that the Assembly elections will be conducted in Jammu and Kashmir. Last Assembly polls in erstwhile State of Jammu and Kashmir were held in November-December 2014.
The budget is expected to focus on good governance, strengthening grassroots democracy, boosting holistic and sustainable agriculture, promoting Jammu and Kashmir as an investment destination, employment generation, developing new tourism destinations, accelerated development and inclusive growth, women empowerment and social inclusion.
The interim budget of Jammu and Kashmir presented by the Union Finance Minister in the Parliament on February 5 proposed an allocation of Rs 1284.45 crore for 2024-25 on security related activities and Rs 2029.95 crore for agriculture and allied sectors, Rs 500.89 crore more than revised allocation of 2023-24. The rural sector was given Rs 3730 crore under capital expenditure for the next financial year. Tourism sector got Rs 357.70 crore, an increase of Rs 103.95 crore from current fiscal year. Health and Medical Education was sanctioned Rs 1427.61 crore.
Significantly, Jammu and Kashmir’s own revenue was estimated at Rs 20,867 crore.
According to the documents, the total gross receipts in respect of proposed VoA for 2024-25 were estimated at Rs 75,932 crore, including the provision for Ways and Means advances of Rs 16,568 crore.
The Parliament’s approval was sought only for Rs 75,932 crore, including the provision for Ways and Means advances of Rs 16,568 crore. After excluding the provision of Ways and Means advances, the total net expenditure is estimated to be Rs 59,364 crore including capital expenditure of Rs 19,283 crore and estimated revenue expenditure of Rs 40081 crore.
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