Budget 2024: Ladakh's allocation rises by 32%, find out why?
Centre has allocated ₹3,922.51 crore to Ladakh for various Central sector expenditure, including agriculture and allied schemes.
Union finance minister Nirmala Sitharaman on July 23 allocated ₹5,958 crore for the Union Territory of Ladakh in the Union Budget 2024-25, a massive 32 percent rise from previous year's allotment of ₹4,500 crore.
The Ladakh UT, which was carved out of Jammu and Kashmir after the abrogation of Article 370 in 2019 has received ₹2,035.49 crore for establishment expenditure of the Centre to meet its secretariat-related expenses and establishment of other departments and offices.
Meanwhile, the Centre has allocated ₹3,922.51 crore to Ladakh for various Central sector expenditure, including agriculture and allied schemes, water supply and sanitation, rural development, power, forestry and wildlife, medical and public health, and education among other departments.
Read: Budget Session: Most interesting, awaited of Parliament’s sessions
As Ladakh is without legislature, all its grants are released by the central government after finalisation by the Union Ministry of Home Affairs. The interim union budget for 2024 had allocated a sum of ₹5958 crore for the union territory.
The grants were the same as those granted in the 2023-24 fiscal year. Of the allocation, ₹2881.84 crore was then allocated for revenue expenditure and ₹3076.16 crore for capital expenditure.
With the increasing budgetary allocations from the govt, there has been a considerable focus on infrastructure development over the years in Ladakh.
The government says it has focused on comprehensive development of green energy, telecommunication, road networks, sports, grid transmission lines, and infrastructure for health and education.
In addition, a number of centrally sponsored initiatives including Pradhan Mantri Gram Sadak Yojana (PMGSY), Central Road and Infrastructure Fund (CRIF), Jal Jeevan Mission (JJM), and Pradhan Mantri Awas Yojana (PMAY) are being monitored in their implementation.
The government says to to boost tourism in the region, it is focusing on the infrastructure and revival of cultural heritage.
In her seventh budget speech, Nirmala Sitharaman also announced various measures that will lead to the reduction of mobile phone prices, gold, silver and copper.
With inputs from PTI