Srinagar, Dec 31: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman is likely to hold consultations with J&K’s Lieutenant Governor and top officials of J&K’s administration in the coming days for finalizing J&K’s budget for 2022-23.
On Thursday Lieutenant Governor of Jammu and Kashmir Manoj Sinha briefed the Finance Minister about the suggestions J&K UT administration has received from various stakeholders in several pre-budget meetings organized by J&K’s Finance department.
“After this, Nirmala Sitharaman is likely to convene a separate meeting with the Lieutenant Governor and top officials of civil administration of J&K,” a Finance Department official told Ziraat Times.
Jammu and Kashmir’s budget was presented in the Parliament for a customary approval on March 17, 2021. In 2022, the budget is expected to be presented in the parliament in the second or third week of March.
Pertinently, this will be third consecutive budget of Jammu and Kashmir which will be presented in the Parliament in the absence of the Legislative Assembly, which is in a suspended animation for want of Assembly elections.
J&K’s budget for the current financial year of 2021-22 was Rs 1.08 lakh crore. This year, owing to an general economic slump and widespread job losses, business and industry stakeholders are expecting a special focus on job creation in this year’s budget.
According to reports, the Finance Department of the Jammu and Kashmir Government has already completed the exercise for assessing requirements of different departments for next financial year’s budget in the months of September and October while pre-budget discussions with trade, industry and other such bodies have also been held.
