Srinagar, Jul 22 (KNO): Jammu & Kashmir Union Territory’s budget for 2024-25 would be unveiled in the Lok Sabha on Tuesday.
As per news agency—Kashmir News Observer (KNO), Union Finance Minister Nirmala Sitharaman would present a statement of estimated receipts and expenditure of Jammu & Kashmir for 2024-25 today (Tuesday) shortly after presenting the Union budget for the ongoing fiscal.
On February 5 this year, Rs 59,634 crore interim budget for J&K was presented in the Parliament by Niramala Sitharaman.
Sources told KNO that the total budget estimates for J&K are expected to be Rs 1.18 lakh crore. Of which the revenue expenditure is estimated to be Rs 80 lakh crore and capital expenditure is likely Rs 38 lakh crore.
This would be the fifth consecutive budget of Jammu & Kashmir in the Parliament after imposition of Central rule in the erstwhile state. The budget document is being presented in the Parliament as J&K is currently without its own Assembly. Since June 19, 2018 when BJP withdrew support to Mehbooba Mufti-led government, J&K is without an elected government.
After the collapse of the PDP-BJP government, the budget for 2019-20 was approved by then J&K Governor as head of the State Administrative Council. After downgrading of J&K into a UT in August 2019, its budgets were presented in the Parliament—(KNO)