Union Finance Minister presents Rs 1.18 lakh crore budget for Jammu & Kashmir
Fourth consecutive budget presented for Jammu & Kashmir in absence of elected government
13-03-2023 : On Monday, Union Finance Minister Nirmala Sitharaman revealed the budget for the Jammu & Kashmir Union Territory for the upcoming financial year, amounting to Rs 1,18,500 crore. Of this total, Rs 41,491 crore has been allocated to developmental expenditure. The budget document states that there has been a substantial increase in the capital component of the budget.
Revenue receipts are expected to be Rs 1,06,061 crore, while revenue expenditure is anticipated to be Rs 77,009 crore, resulting in a revenue surplus of Rs 29,052 crore that can be allocated towards capital expenditure. This marks the fourth consecutive year in which a budget for Jammu and Kashmir has been presented in Parliament, as an elected government has not been in place for the Union Territory during this time.