News Updates about Annual budget of state of Jammu and Kashmir


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JAMMU: (Azadi Times) Budgetary proposals have been prepared for the discussion regarding the annual budget of Indian-occupied Jammu and Kashmir for the financial year 2023-24.


Meetings of Indian Finance Minister Nirmala Sitharaman and Union Finance Secretary with the Lieutenant Governor and administrative officials of Jammu and Kashmir have been proposed in New Delhi ahead of this budget, which is likely to be presented in Parliament in mid-March. Also, these meetings can be held at the beginning of March.


This time an increase in the budgetary allocation for municipal bodies and panchayats is expected. According to information, the annual budget of Jammu and Kashmir for the new financial year can be Rs 1.20 lakh crore.


Special attention is being given to the agriculture and industry sector in Jammu and Kashmir, due to which the budget will focus on other burning areas apart from these two sectors.


Along with this, in the third budget last year, the Union Finance Minister presented a record budget of Rs 1.13 crore for Jammu and Kashmir. Earlier, a budget of Rs 1.08 lakh crore was passed in the year 2021-22. According to the information, last year more budget was allocated to education.


Apart from this, the budget was allocated for the areas of health, agriculture, horticulture, rural development, electricity, tourism, water power, etc. The elevated metro rail project in Jammu and Srinagar cities was said to start in 2022-23, which is to be completed by 2026.




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