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The Union Budget 2023-24 on Wednesday allocated Rs 35,581.44 crore to Jammu and Kashmir, the majority of it being central assistance for the union territory.
Other union territories — Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Ladakh, Lakshadweep, Puducherry and Delhi — too got their share.
According to the Budget papers, Rs 35,581.44 crore has been allocated to Jammu and Kashmir, of which Rs 33,923 crore is central assistance. The Jammu and Kashmir administration will have to spend the amount for mitigation of natural disasters, to meet the expenditure incurred on account of permanent restoration of infrastructure which was damaged due to the 2014 floods, rehabilitation, preservation and restoration of Dal-Nageen lake in Srinagar.
Acc to business standard , The funds will also be spent as equity contribution for 624 MW Kiru hydroelectric project, 800 MW Ratle hydroelectric project and 540 MW Kwar hydroelectric project, Jhelum Tavi flood recovery project and to meet the resource gap funding for infrastructure projects in Jammu and Kashmir.
