New Delhi: The government of India has earmarked Rs 42,277.74 crore for Jammu and Kashmir in the GoI Budget for 2024-25, a slight increase of 1.2% from the Rs 41,751.44 crore allocated in the previous fiscal year.
Finance Minister Nirmala Sitharaman’s budget, presented in the Lok Sabha on Tuesday, includes Rs 40,619.3 crore as Central Assistance to Union Territories to address the resource gap in Jammu and Kashmir. It also features Rs 7,900 crore, advanced from the Contingency Fund of India, which will be reimbursed once Parliament passes the Demands for Grants for 2024-25 and the Appropriation Act receives presidential assent.
Additionally, Rs 279 crore has been allocated as grants for the union territory Disaster Response Fund to address disaster mitigation expenses caused by natural calamities.
The budget includes Rs 130 crore in grants for the 624-MW Kiru Hydro Electric Project, Rs 476.44 crore for the 800-MW Ratle Hydro Electric Project, and Rs 500 crore for the Jhelum and Tawi Flood Recovery Project. Furthermore, Rs 171.23 crore has been allocated for the 540-MW KWR Hydro Electric Project and Rs 101.77 crore for capital expenditure to support infrastructure projects.
In total, the GoI has also allocated Rs 9,789.42 crore to the Jammu and Kashmir Police.
