Budget 2024- Over Rs 42,000 Crore Allocated To J&K

(MENAFN- Kashmir Observer) New Delhi- The Centre has allocated Rs 42,277.74 crore to Jammu and Kashmir in the Union Budget for 2024-25, a nominal hike of 1.2 per cent from the Rs 41,751.44 crore given to the Union Territory in the last fiscal.

In the budget presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday, an amount of Rs 40,619.3 crore has been allocated as Central Assistance to Union Territories to meet the resource gap in Jammu and Kashmir.

It also includes a sum of Rs 7,900 crore, sanctioned as advance from the Contingency Fund of India that shall stand recouped to the fund after the Demands for Grants for 2024-25 is passed by Parliament and the connected Appropriation Act assented to by the president, the budget document said.
The government has allocated Rs 279 crore to Jammu and Kashmir as grants towards contribution to the Union Territory Disaster Response Fund to meet the expenditure on account of mitigation of disasters caused due to natural calamities.

The budget has allocated Rs 130 crore to the Union Territory as grants towards the equity contribution for the 624-MW Kiru Hydro Electric Project (HEP), while an amount of Rs 476.44 crore has been granted towards equity for the 800-MW Ratle HEP. Besides, a grant of Rs 500 crore has been provided to meet the expenditure on account of the Jhelum and Tawi Flood Recovery Project (JTFRP).

The Centre has also allocated Rs 171.23 crore to Jammu and Kashmir as grants for equity contribution for the 540-MW KWR HEP, the document said.
It has allocated Rs 101.77 crore as support for the Union Territory's capital expenditure to meet the resource-gap funding for infrastructure projects.
In addition to the total budget of Rs 42,277.74 crore, the Centre has also allocated Rs 9,789.42 crore to the Jammu and Kashmir Police.

Read Also Defence Ministry Gets Highest Allocation '1 Month Wage For First Time Employees'

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