J-K UT’s budget to be presented in Parliament tomorrow

Fourth consecutive budget of UT in Lok Sabha; Top officials of J&K reach New Delhi

Indian Parliament House, New Delhi
Indian Parliament House, New Delhi

SRINAGAR — Union Finance Minister Nirmala Sitharaman would unveil the Jammu & Kashmir Union Territory’s budget for the next fiscal in the Parliament on Monday (March 13). This would be the fourth budget of J&K UT in the Parliament after the reorganization of the erstwhile state of Jammu & Kashmir in August 2019.

As per the list of Lok Sabha’s business scheduled for tomorrow, as per the news agency KNO, the Union Finance Minister will present a statement showing the demands for grants in respect of the Union Territory of Jammu and Kashmir for the year 2022-23. She will also present a statement showing the supplementary demands for grants – second batch for 2022-23.

The budget is being presented in the Parliament as law-making powers of Jammu & Kashmir Union Territory are vested with it in absence of an elected government in the UT.

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This would be the fourth consecutive budget of J&K UT in the Parliament. The budgets of UT for 2020-21, 2021-22 and 2022-23 were unveiled in the Parliament by Union Finance Minister Nirmala Sitharaman.

In June 2018, Jammu & Kashmir came under Governor’s rule after BJP withdrew support to Mehbooba Mufti-led government citing the deteriorating security situation in the state. The budget for 2019-20 was approved by the Governor-led State Administrative Council in December 2018 days before the erstwhile state came under President’s rule under Article 356 of the Constitution of India.

In the run-up to the budget, top officials of J&K’s Finance Department are stationed in New Delhi over the past three days.

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“Director General, Budget MY Itoo and Joint Director Budget Shafat Yahya have already reached New Delhi. More officials are likely to join them tomorrow,” a senior official of the Finance Department said.

He said the size of J&K’s budget for the next fiscal would be more than 1.15 lakh crore.

For the ongoing fiscal (2022-23), Jammu and Kashmir was granted a budget of Rs 112950 crore.

In the Union budget for the next fiscal, J&K has been allocated Rs 35581.44 crore, of which Rs 33,923 crore is Central assistance. The Central assistance is given mainly to the UT to meet its resource gap.

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