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The Jammu and Kashmir Budget for the fiscal year 2024-25 is a strong proof to the government’s commitment to the J&K’s development and prosperity. With a budget size of Rs. 1,18,390 crore, it marks an increase from the previous year, showcasing the government’s focus on boosting economic growth and improving the quality of life for its citizens.
The Lieutenant Governor, Manoj Sinha, expressed gratitude to the central government, highlighting the support from Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. Their backing has been instrumental in driving inclusive growth, ensuring that the needs and aspirations of the people of Jammu and Kashmir are met.
A notable feature of the budget is the balanced allocation across various sectors. The social sector receives significant attention, with Rs. 24,870.50 crore earmarked, demonstrating the government’s commitment to improving education, health, and social welfare. The infrastructure sector, with an allocation of Rs. 11,664.45 crore, will see substantial development in roads, bridges, and urban infrastructure, which are crucial for long-term economic growth.
The budget also highlights fiscal discipline and transparency. The government’s efforts in revenue augmentation, power sector reforms, and expenditure management have resulted in increased revenue collections and reduced wasteful spending.
These initiatives have not only improved the financial health of the J&K but also laid a strong foundation for future growth.
Overall, the Budget 2024-25 is a positive step forward for Jammu and Kashmir. It reflects a well-thought-out strategy to address the region’s challenges while ensuring sustained economic development. The government’s focus on inclusive growth and fiscal responsibility bodes well for the future of Jammu and Kashmir.
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