FM proposes Rs. 1 lakh cr budget for J&K

NEW DELHI: The government Tuesday proposed an over Rs. 1.01 lakh crore Budget for the Union territory of Jammu and Kashmir for the 2020-21 fiscal, making it the highest ever budget envisaged for the region.

Seeking approval of expenditure from Parliament, finance minister Nirmala Sitharaman said that the proposed Budget was “an indicator of our commitment to make J&K a model of development”.

“The total budget estimates for the fiscal is Rs. 1,01,428 crore, of which developmental expenditure is of the order of R. 38,764 crore, an increase of 27%. We hope to achieve GSDP growth of 11%, making the UT one of the fastest growing UTs/States,” she added.


The minister added that expected revenue receipts are Rs. 91,100 crore whereas revenue expenditure is expected to be Rs. 62,664 crore thereby making available of Rs. 28,436 crore as surplus for capital expenditure. Capital receipts are projected at Rs. 10,329 crore and capital expenditure is expected Rs. 38,764 crore, 27% higher than previous years’ budget. The minister added that 38% of the earmarked Budget shall be spent on development and infrastructure projects.

The UT’s tourism budget has been proposed at Rs. 706 crore, while three new religious circuits were proposed for pilgrimage tourism.