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 debt, while Power Development department needs to provide for power procurement. The Hospitality and Protocol department intends to develop the new J&K Bhawan at Dwarka, New Delhi for which land will be allotted from DDA. The Cooperative department requires the funding additionally for its new CSS, Assistance to Primary Agricultural Credit Societies (PACS).These additional demands are proposed to be catered with Supplementary Demands for the current year 2023-24.
The interim budget for 2024-25makes provisions for the ongoing initiatives for infrastructure development, sustainable agriculture, new industrial estate, PRI level works, employment generation, developing tourism, and social inclusion.During preparation of the interim budget proposals, consultations were held with all the Departments and various stakeholders to provide for ongoing initiatives and arrive at realistic budgetary numbers. For finalizing expenditure proposals, assessment of financing needs of infrastructure projects, social and economic measures undertaken by Departments was undertaken.
The budgetary exercise focused on the imperative of advancing the cause of the greater collective good within the realistically realizable resources. While the budgetary estimate for the next financial year 2024-25 is about ₹1,18,728 Cr, the UT Government has proposed the Vote on Account for ₹59,364 Cr.
This interim budget for 2024-25 covers revenue expenditure of ₹40,081 Cr and capital expenditure of ₹19,283 Cr.The interim budget of Jammu and Kashmir for 2024-25 provides for the ongoing measures and schemes as follows –
1) ₹2959 Cr provisioned for tap-water connectivity for rural areas under Jal Jeevan Mission with Rs 532 crore as UT Share.
2) ₹934 Cr for transforming agriculture and allied sectors of the UT through the Holistic Agriculture Development Programme (HADP), including provisions for IFAD funded J&K Comprehensive Investment Plan (JKCIP).
3) ₹1907 Cr for rejuvenating school education infrastructure and services through funding under Samagra Shiksha Abhiyan.
4) Provision of improving road connectivity with ₹ 1683 Cr for PMGSY roads,₹ 300 Cr for CRF roads, and ₹ 1000 Cr NABARD scheme.
5) ₹ 1313 Cr for strengthening decentralized governance by providing for local area works of panchayat and urban local bodies.
6) ₹ 1271 Cr for strengthening infrastructure and services in the health sector under National Health Mission mechanism.
7) ₹ 1093 Cr for rural housing under PMAwasYojana-Grameen scheme.
8) ₹ 1000 Cr for comprehensive social security coverage for Old aged, Widow and Disabled pensions by saturation approach.
9) ₹ 660 Cr for J&K’s equity for in the hydro electric projects at Ratle, Kwar, and Kiru, which would provide stable revenue source and cheaper power.10) ₹505Cr for timely procurement of machinery, equipments,prosthetic aidsand drugs in Health sector through the dedicated corporation.
11) ₹ 500 Cr for capitalization of the banks, including Cooperative Banks, Rural Banks, J&K Bank, etc.
12) ₹ 450 Cr for infrastructure of new Colleges and Universities as per NEP vision.
13) ₹430 Cr for women empowerment intervention ofLadliBeti and Marriage Assistance
14) ₹ 400 Cr for construction of Transit accommodations for Kashmiri Pandit employees.
15) ₹ 400 Cr for development of Industrial Estates and related infrastructure.
16) ₹ 370 Cr under Swachh Bharat Abhiyan (Urban) scheme.
17) ₹ 390 Cr for Flood Management Project of River Jhelum.
18) ₹ 450 Cr for GST re-imbursement to ensure timely reimbursement of the claims.
19) ₹ 272Cr for DDC/BDC grants improving local governance at district and block level
20) ₹ 174 Crfor development of model schools under PM-Shri scheme.
21) ₹ 150 Cr for developing rooftop solar and other avenues of new and renewable energy.
22) ₹ 140 Cr for creation of Sports Infrastructure
23) ₹ 100 Cr for conclusion of World Bank funded Jhelum Tawi Flood Recovery Project.
24) ₹ 100 Cr for Mission Youth programmes for education, skilling, and employment
25) ₹ 100 Cr for heritage preservation,
26) Rs91 Cr for new tourism destinations, new circuits, Sufi circuit and identified religious circuits, ropeways, highway resting placesand promotion of Golf.
27) ₹ 70 Cr under infrastructure for welfare of tribals for construction of Tribal Hostels/Milk Villages/ Nomad Shelters/Libraries for Gujjars.
28) ₹ 100 Cr for sewerage projects in urban areas, ₹ 70 Cr for development of new Townships and affordable housing and ₹ 50 Cr for Dal development.
29) ₹ 40 Cr for Tourism promotion, ₹15 Cr for the festival promotion and for promotion of cinema/ threatre.
30) ₹ 40 Cr for meeting incentives as per the provisions of the Industrial Policy and Start-ups; ₹ 15 Cr for trade promotion through J&K TPO; and ₹ 100 Cr for Youth startup/Job fairs/employment fairs.
31) ₹ 30 Cr for establishment of cold storage and ₹ 30 Cr for high density plantation.
32) ₹80 Cr for establishment of DDC/BDC/PRI accommodation and offices as also for security arrangements of DDC/BDC/PRI representatives.
33) ₹59Cr for construction of Police Housing colony and relief and rehabilitation
34) ₹45Cr for construction of Bunkers and for digitization and CCTVs in Police Stations
35) ₹ 30 Cr for improving Quality in Schools, School Infrastructure, for Career Counseling and for introduction of additional Streams in Schools.
36) ₹ 5 Cr for replacement of old fleet in transport sector.The two Appropriation Bills on the Supplementary Demands for 2023-24 and Vote on Account for 2024-25 of the UT Government are likely to be considered by the Lok Sabha and Rajya Sabha during 7th to 9th February 2024.
