JAMMU, FEB 3: The Union Finance Minister, Nirmala Sitharaman on Tuesday presented the Budget for the Financial Year 2022-23 in the Parliament.
With a total outlay at Rs 39.45 lakh crore, Jammu and Kashmir has been granted Rs. 35,581.44 crore, which includes Central Government’s assistance, grants and loans for the financial year of 2022-23 to cover J&K’s budget deficit. In the previous year a total of 34,704 crore was granted to Jammu and Kashmir. This marks an increase of Rs 877 crore in the current budget from the last year.
Here is what the key components of this allocation is:
During the Budget speech, the Finance Minister announced specific grants to J&K for Power Projects of Chenab, Special Scholarship Scheme, Industrial Development Scheme, Institute of High-Altitude Medicinal Plants at Bhaderwah including a package under Special Category of States.
As per the budget, a sum of Rs 260 crore has been allocated for Industrial Development and Rs. 225 crores for scholarships. Also, an amount of Rs 273 crore has been allotted for rehabilitation of Dal Lake and Nagin Lake. Correspondingly, a total of Rs 279 crore have been allocated as grants for contribution to Union Territory’s Disaster Response Fund whereas 4 crore is assigned for setting up Institute of High-Altitude Medicinal Plants at Bhaderwah.
Moreover, as per the Budget document, 800MW Ratle power project and 624MW Kiru power project have been granted Rs 476 crore and Rs 130 crores respectively. Both these projects are being constructed on river Chenab in District Kishtwar. Additionally, for capital expenditure, Rs 500 crore have also been allocated for Jammu and Kashmir..
Under the budget, the border villages through ‘VIBRANT VILLAGE PROGRAMME’ with less population, limited connectivity and poor infrastructure are targeted for particular development initiatives. This will include construction of village infrastructure, housing, tourist centres, road connectivity, provisioning of decentralized renewable energy, direct to home access for Doordarshan and educational channels as well as support for livelihood generation.
Additional funding for these activities will be earmarked besides existing schemes will also be covered and their outcome will be defined and monitored on constant basis, according to the budget proposals.
Commenting on the budget, Lieutenant Governor of Jammu and Kashmir, Manoj Sinha welcomed the announcement made by the Central Government for starting PARVAT MALA scheme. This scheme will create a modern system of transportation on the mountains and hilly terrains, he said. As a preferred and ecologically sustainable alternative to conventional roads in difficult hilly areas of J&K, National Ropeways Development Programme will be taken up in PPP mode.
960249 938524Be the precise weblog in the event you have wants to learn about this topic. You comprehend considerably its almost onerous to argue to you (not that I personally would needHaHa). You undoubtedly put a new spin for a subject thats been discussing for some time. Nice stuff, just good! 557438