Jammu and Kashmir chief minister Omar Abdullah on Friday presented the Union territory's first budget since the abrogation of Article 370.
Abdullah said that J&K is at the “threshold of a new era of peace and prosperity, with a semblance of normalcy returning after over three-and-a-half decades of turmoil.”
While presenting the budget, Abdullah hailed Prime Minister Narendra Modi, Union Home Minister Amit Shah and Union Finance Minister Nirmala Sitaraman for their support in various sectors.
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The last budget session took place in 2018 under the then PDP-BJP government in the erstwhile state of J&K, which was accorded the status of Union Territory after Ladakh was carved out as a separate UT following the abrogation of Article 370 on August 5, 2019.
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Key budget announcements
1.During his budget speech, Abdullah said that the focus of the budget was on empowering youth and women, addressing regional disparities, and striving for the restoration of statehood.
2. Abdullah announced an allocation of ₹815 crore for agriculture, to generate 2.88 lakh jobs. “The state will promote a two-crop pattern and focus on expanding horticulture. The government also plans to boost wool processing and promote the leather tanning industry, which is expected to help the local economy,” ANI quoted Abdullah as saying.
3. The J&K government has allocated ₹390.20 crore for tourism development, with plans to increase homestays, promote water sports, and develop Sonmarg as a winter sports destination. Jammu will see a new water park in Sidhra, and Basholi will be developed as an adventure destination.
1.During his budget speech, Abdullah said that the focus of the budget was on empowering youth and women, addressing regional disparities, and striving for the restoration of statehood.
2. Abdullah announced an allocation of ₹815 crore for agriculture, to generate 2.88 lakh jobs. “The state will promote a two-crop pattern and focus on expanding horticulture. The government also plans to boost wool processing and promote the leather tanning industry, which is expected to help the local economy,” ANI quoted Abdullah as saying.
3. The J&K government has allocated ₹390.20 crore for tourism development, with plans to increase homestays, promote water sports, and develop Sonmarg as a winter sports destination. Jammu will see a new water park in Sidhra, and Basholi will be developed as an adventure destination.
4. The J&K CM during his budget speech, stressed the importance of transparency in welfare measures and stated that the government is focused on empowering sectors like agriculture, tourism, and local industries.
5. The government is planning to operationalise a new film policy, aiming to make J&K a prime destination for film production and eco-tourism. The state will also focus on constructing 500 new Panchayat Ghars to improve local infrastructure.
6. Omar Abdullah announced that 70 percent of the funds are being allocated towards salaries, which is putting a significant strain on the state's finances. “Additionally, there are high ATNC (Administrative, Technical, and Non-Commercial) losses, and the state's debt has increased. However, all borrowing has been kept within the prescribed limits to maintain financial discipline,” the CM announced.
7. The J&K government is planning to establish 64 industrial estates and address traders' concerns with a new policy offering price preferences. Additionally, there will be a focus on promoting Pashmina and other local products, with seven more products set to receive GI (Geographical Indication) tagging.
8. In the healthcare sector, the budget includes provisions for two new AIIMS institutions and ten fully-equipped nursing colleges. Abdullah announced a ₹5 lakh health insurance coverage for all citizens, alongside plans to integrate telemedicine services across the state.
9. To further improve medical infrastructure, three new Cath Labs will be established, MRI machines will be installed in all government hospitals, and dialysis services will be expanded to all district hospitals, the CM announced.
10. Abdullah highlighted that the Union Territory's own revenues, both tax and non-tax, are estimated at ₹31,905 crore. "Additionally, ₹41,000 crore is expected as central assistance and ₹13,522 crore as CSS and PMDP for the Union Territory of Jammu and Kashmir," he added.
(With PTI, ANI inputs)