in ,

J&K’s GDP up from Rs 1.6 lakh cr in 2018 to Rs 2.64 lakh cr in 2022: LG Manoj Sinha addresses media

Yogesh and Imtiyaz Shah


Jammu, Feb 11: Jammu and Kashmir’s Lieutenant Governor Manoj Sinha Sunday said that the reforms done in the last four to five years have resulted in the growth of J&K’s GDP from Rs 1.6 lakh crore in 2018-19 to Rs 2.64 lakh crore in 2021-22.

“The reforms done in the last four to five years have resulted in efficient growth. J&K is on the path of good governance, development and peace,” he said.

To another query about reservation to SC’s, he said that some people will continue to do politics over the issue the way they did on the issue of providing land to landless. “Let them continue their job, we will do ours,” he said.

The LG said that J&K Bank that was a RS 1200 loss institution is now flourishing with RS 1300 Cr profit institution. “This year, we hope to see J&K Bank’s profit touching Rs 1800 Crore,” he said.

He said the present administration has inherited to re-pay the huge power debts worth Rs 28000 Crore.

About the recent vote on the account budget presented in the parliament for J&K recently, the LG said that the economic condition of the UT is much better than what it was earlier. “J&K administration’s efforts have been to increase capital expenditure and decrease revenue expenditure,” he said.

The LG said that revenue expenditure of J&K is Rs 80,000 Crore as a vast portion goes into salaries of employees while capital expenditure has recorded a quantum jump of Rs 38000 Crore from Rs 11000 Crore.   On a query, about shifting of the office United Nations Military Observers Group of India and Pakistan (UNMOGIP) located in Srinagar, the issue “will be looked into.”

The LG stated this in reply to the query that now that J&K has been fully integrated into the Union of India while as there is zero tolerance against terrorism and Indian flag runs high across Kashmir, the UN office in Sonwar area of Srinagar continues to operate as whether there are plans to shift the same. “Now that the question has been asked, we will look into the issue….,” the LG said.

Here are the other highlights of his press conference compiled by Ziraat Times:

The budget for 2024-25 stands at Rs. 1,18,728 crore, showcasing a growth from the previous year. Key figures reveal Revenue Receipt Estimates of Rs. 97,861 crore and Capital Receipt Estimate of Rs. 20,867 crore. Sector-wise allocations for Revenue Expenditure include Administrative Sector at Rs. 12,580 crore, Social Sector at Rs. 24,600 crore, Infrastructure Sector at Rs. 12,675 crore, and Economic Sector at Rs. 5,306 crore. Capital Expenditure, contributing 14.64% to GDP, is set at Rs. 38,566 crore, with allocations mirroring the revenue sectors.

The Gross Domestic Product (GDP) for 2024-25 is projected at Rs 2,63,399 crore, indicating a robust growth of 7.5%. The tax to GDP ratio is expected to be 7.84%, a slight increase from the previous year’s 6.56%.

Interim Budget Details: Focus on Good Governance and Inclusive Growth

The interim budget outlines estimates for the Vote on Account for part of the fiscal year 2024-25. Total receipts are estimated at Rs. 59,364 crore, with own revenues projected at Rs. 15,158 crore. Central assistance, including CSS/ PMDP, amounts to Rs. 18,639 crore. Net expenditure is estimated at Rs. 59,364 crore, with capital expenditure pegged at Rs. 19,283 crore.

Focus Areas and e-Governance Initiatives: A Technological Leap

The budget underscores focus areas such as Good Governance, Grass-root Democracy Strengthening, Sustainable Agriculture, Investment Promotion, Employment Generation, Tourism Development, and Women Empowerment. Additionally, the Information Technology Department will implement e-Governance initiatives, including extending e-office to all offices and panchayats, establishing physical verification units, revitalizing PPP and VGF cell, and implementing emerging technologies like AI, ML, and IoT for citizen service delivery.

Sector-wise Key Features for 2024-25: Prioritizing Agriculture, Health, and Rural Development

Under Agriculture & Allied Sectors, a capital expenditure of Rs. 2029.95 crore is allocated. Initiatives include the establishment of Kisan Khidmat Ghars, strengthening seed multiplication farms, and implementing projects to enhance dairy, fish, and fruit production.

Health & Wellness receive Rs. 1427.61 crore for capital expenditure, focusing on operationalizing cancer institutes, increasing DNB seats, and enhancing health records through ABHA IDs.

Rural Development & Panchayati Raj, with Rs. 3730.83 crore, emphasizes MGNREGA, HIMAYAT scheme, NRLM, and construction of panchayat ghars.

Power Sector, allocated Rs. 1875 crore, aims at extending power supply to Tulail Valley, creating new grid sub-stations, and improving transmission lines.

Tourism & Culture, with Rs. 469.20 crore, focuses on developing off-beat tourist destinations, border tourist villages, and heritage sites.

Water Supply & Irrigation, with Rs. 5038.74 crore, emphasizes tap connections, irrigation schemes, and completion of Shahpur Kandi Dam.

Housing & Urban Development, allocated Rs. 2329.55 crore, highlights projects like sewerage treatment plants, water supply connections, and pollution abatement.

Education, receiving Rs. 1300.10 crore, emphasizes library grants, kindergarten establishment, infrastructure upgrades, literacy programs, and college development.

Connectivity (Roads & Bridges), with Rs. 4108.87 crore, aims to black-top 4000 kilometers of roads under various schemes.

Industrial Development, with Rs. 529.62 crore, focuses on developing new industrial estates, upgrading infrastructure, and introducing a new Start-up Policy.

Social/Tribal Welfare, allocated Rs. 306.82 crore, highlights initiatives for intellectually challenged persons, Anganwadi Centres, and tribal population connectivity.

Relief & Rehabilitation of Kashmiri Migrants, with Rs. 1067.61 crore, targets the completion of transit accommodations and filling pending posts.

Skill Development & Employment, allocated Rs. 165.50 crore, emphasizes financial support, counseling activities, new age courses, and placement drives.

Sports & Youth Initiatives, with Rs. 141.80 crore, plans for youth engagements, sports events, playfield constructions, and swimming pool installations.

Forestry & Environment, with Rs. 156.45 crore, emphasizes tree planting, urban green spaces, sapling distribution, and infrastructure development at wetlands.

Food & Civil Supplies, with Rs. 313 crore, aims to provide additional rice to Priority Households and complete e-KYC under the Public Distribution System.

Science & Technology, with Rs. 159.50 crore, emphasizes replacing agriculture pumps with solar pumps, installing rooftop solar power plants, and distributing improved cook-stoves.

Security Related Activities, with Rs. 1284.45 crore, focuses on border police posts, CCTV installations, police facilities improvement, bunker construction, and ICJS implementation.

Major Scheme Allocations: A Comprehensive Approach to Development

The budget allocates substantial funds to major schemes, including Holistic Agriculture Development Programme, Industrial Estate development, GST refund, Trade Promotion, Employment Schemes, Road Sector development, Jal Jeevan Mission, Flood Management, Swachh Bharat Mission (Urban), New Townships, and more.

With KNO inputs

Leave a Reply

Your email address will not be published. Required fields are marked *

J&K Budget 2024-25: A positive beginning

Rural women entrepreneurs’ mela – SARAS – inaugurated in Jammu