Jammu and Kashmir Interim Budget | Sitharaman proposes ₹1.18 lakh crore for 2024-25
The Hindu
Finance Minister Nirmala Sitharaman proposed an interim Budget of ₹1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir
Finance Minister Nirmala Sitharaman on February 5 proposed an interim Budget of ₹1.18 lakh crore for fiscal 2024-25 for the Union Territory of Jammu & Kashmir.
The interim Budget envisages a fiscal deficit of ₹20,760 crore and a 7.5% growth in gross State domestic product (GSDP).
Read: Jammu and Kashmir Interim Budget—at a glance
The capital expenditure for the fiscal has been proposed at ₹38,566 crore, which is 14.64% of the GSDP, as per the interim Budget tabled by Ms. Sitharaman in Parliament.
The revenue receipts for the next fiscal stood at ₹97,861 crore.
According to Ms. Sitharaman, the crucial reforms undertaken in 2019 enabled "path-breaking" measures by the Union Territory Government to decentralise governance structure, promote inclusive development, upscale revenue generation and step up infrastructure development.
Also read | Puffed-up and poll-ready: Nirmala Sitharaman’s first Interim Budget
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