A Rs. 500-crore package for rebuilding the lives of Kashmiri migrants was among the slew of measures announced in this year's Union budget for the region, including Jammu and Kashmir.
Presenting the Budget for 2014-15, union finance minister Arun Jaitley said that a fund of Rs. 500 crore will be earmarked for providing support to Kashmiri migrants for "rebuilding their lives".
Jaitley also announced a proposal of Rs. 200 crore for upgrading of indoor and outdoor sports stadiums to international standards in Jammu and in the Kashmir Valley. He also set aside Rs. 50 crore for Pashmina Production programme in Jammu & Kashmir.
The finance minister also announced the setting up of five new IITs and IIMs. He announced the setting up of IIT in Jammu and IIM in Punjab and Himachal Pradesh.
Finance Minister’s proposals for the region, including Punjab, Haryana, Himachal and Jammu & Kashmir in the Union Budget 2014:
• Horticulture university for Haryana
• Agro bio-tech centre in Mohali
• Rs 500 cr to rehabilitate displaced Kashmiri migrants in J&K
• Rs 200 cr to upgrade sports facilities in J&K
• Technical research centre for biotechnology at Faridabad
• Rs 50 crore for Pashmina production in Kashmir
• J &K among states allocated R 500 cr for renewal energy project
• IIT in jammu
• IIM in Himachal Pradesh and Punjab