Jammu & Kashmir

JK budget to be presented in parliament today

Parliament of India. [File Photo]

New Delhi: Finance Minister of India Nirmala Sitharaman is set to present Jammu and Kashmir Union Territory’s budget for 2022-23 in the Lok Sabha on Monday.

This will be the third time since August 5, 2019 when JK’s budget will be presented in the Parliament.

As per the list of business released by the Lok Sabha secretariat for Monday, the Finance Minister of India will present a statement of estimated receipts and expenditure 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 in respect of the Union Territory of Jammu and Kashmir for the year 2021-22.

The parliament is also expected to discuss and vote on JK’s budget today as Sitharaman is scheduled to move a motion for suspending rule 205 of the Rules of Procedure and Conduct of Business in Lok Sabha, which provides that there shall be no discussion of the budget on the day it is presented to the House, in its application to the discussion of the budget for 2022-23 and supplementary demands for grants for 2021-22 of the administration of Union Territory of Jammu and Kashmir, to enable the same-day presentation of and discussion on the budget.

Meanwhile, officials from JK administration including Financial Commissioner Financial Atul Dullo have already reached New Delhi to assist Finance Ministry in the presentation of the JK budget.

According to officials, the size of JK’s budget for the next fiscal is expected to be more than 1.10 lakh crore.

“The size of Jammu and Kashmir’s budget for 2021-22 was Rs 1.08 lakh crore and we are expecting a substantial hike in it,” they said, adding that JK was allocated Rs 35,581.44 in the Budget for 2022-23 to meet its resource gap.

The budget is being presented in the Parliament as legislative powers of the JK assembly are vested with it in absence of an elected government in the UT.

Pertinently, Jammu and Kashmir has been without an elected government since June 2018.

 

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