NEW DELHI, Feb 5: Union Finance Minister Nirmala Sithraman presented the Government of Jammu and Kashmir's Revised Estimates for 2023–24 and Interim Budget for 2024–25 to the Parliament today. The Lok Sabha and Rajya Sabha will discuss the two appropriation bills on the Supplementary Budget for 2023–24 and the Vote on Account for 2024–25 in this regard. The UT Finance Department had created the Interim Budget for the upcoming fiscal year as well as the Supplementary Budget for the present one. In order to do this, the Department evaluated the UT government's revenue receipts from stamp duty, motor spirit tax, excise, and GST. Additionally, non-tax income from the sale of timber, mining royalties, electricity and water supplies, annual rent from industrial areas, etc., was also looked at. The UT government's own revenue is projected to be Rs. 20,867 crore. The Government of UT also pursued the Government of India to obtain government funding. The UT's efforts in this regard were spearheaded by Chief Secretary Shri Atal Dulloo and Lieutenant Governor Shri Manoj Sinha. To assess these demands of the UT Government, important meetings were held in the Ministry of Home Affairs and Ministry of Finance in August 2023, October 2023, and January 2024. In recent months, the Union Home Minister and Union Finance Minister personally examined the UT Government's financial management. Consequently, the Central Government has committed to giving the UT Government ₹41751.44 Cr during this fiscal year and ₹ 37277.74 Cr during the following fiscal year. The Union Government's Revised Estimates for 2023–2024 and Budget Estimates for 2024–2025 accurately reflect these aid levels. This support will be given in accordance with MHA Demand No. 58 for Support to the UT. This help covers the UT government's regular support (resource gap) as well as the equity contribution for hydropower projects at Kiru, Kwar, and Rattle, among other things. These aid amounts are included in the Union Budget, which is currently before Parliament and will be discussed prior to the UT's interim budget.Building on this, the Jammu and Kashmir government created its Vote on Account for 2024–25 and Supplementary Budget for 2023–24. The two appropriation bills—the vote on account and the supplementary demands—that were to be presented to parliament were also written by the finance department. Since the UT government was able to reduce its spending, the updated estimates for 2023–24 are generally less than the budgeted predictions for that year. ₹8,712.90 Cr in supplemental requests for 2023–24 are related to the four departments of cooperatives, power development, hospitality and protocol, and finance.The supplementary budget is required by Finance department in view of the repayment of…