Lok Sabha passes Jammu and Kashmir Appropriation Bill, 2021

“I would like to thank the Prime Minister, Shri Narendra Modi, Home Minister, Shri Amit Shah, and Finance Minister, Ms. Nirmala Sitharaman for yet another historic budget with emphasis on the growth and development of Jammu & Kashmir," Sinha said.

"The Government is committed to invest more money in new and accelerated infrastructure projects, support new investments and increase business landscape through incentives in new Industrial Scheme," he said.

"The budget lays down roadmap for tourism industry to get back on track. Besides, push to rural economy and agriculture would provide a fillip to horticulture and overall agri-sector and benefit the farming community”, said the Lt Governor.

“The government is committed to strengthening Panchayati Raj Institutions and substantial allocation has been made for the developmental fund as well as for PRIs infrastructure. We are cutting the red tape and making it easier for businesses to invest, manufacture and create jobs. Skill development is also one of the high priority areas of the government to ensure the youth of Jammu & Kashmir have the right skills for the jobs of the future. We are also determined to create women entrepreneurship ecosystem to improve their earning potential and enhance economic independence”, the Lt Governor observed.

The budget 2021-22 for J&K focuses on Good Governance aimed at maximum governance and minimum government, socio-economic development of the people, development of infrastructure across J&K, and generation of employment.

The total budget estimates for the fiscal is Rs 1,08,621 crore, of which capital expenditure is of the order of Rs 39, 817 crore and revenue expenditure is Rs 68,804 crore.

Focusing on the empowerment of District Development Councils (DDCs) and Block Development Councils (BDCs), the Central Government has kept a provision of Rs 200 crore for 20 DDCs of Jammu and Kashmir and Rs 71.25 crore for 285 BDCs as `Development Fund’.

Further, Rs 30 crore have been earmarked for establishment of DDC/BDC offices, while there is a provision of Rs 1313 crore for Panchayati Raj Institutions (PRIs)/Urban Local Bodies (ULBs) for rural and urban infrastructure and Rs 80 crore for PRI Security.An amount of Rs 28 crore for Mughal Road, Rs 60 crore for new tourist circuits including Mansar, Surinsar, Wular and Bangus, Rs 20 cr for new ropeways, Rs 40 crore as ex-gratia relief for COVID warriors, Rs 50 crore for construction of bunkers in border areas, Rs 50 crore for two Medicities, Rs 10 crore for Drug De-addiction/rehabilitation centres, Rs 200 crore for Metro Corporations, Rs 150 crore for Dal Development and conservation, Rs 100 crore as City Grants for Jammu and Srinagar cities, Rs 200 crore for Smart City projects and Rs 2 crore as UT matching share for Devika project.

The Union Government has also kept Rs 800 crore for capitalization of Jammu and Kashmir Bank Limited, Rs 400 crore for GST reimbursement.The budget has focused on enhanced allocation to all departments. Road & Bridges Sector has sanctioned Rs 4089 crore in next year’s budget, an increase of Rs 467 crore, Power gets Rs 2728 crore, up by Rs 119 crore, Health and Medical Education Rs 1456 crore, up by Rs 188 crore, Agriculture and Horticulture Rs 2008 crore, Rs 695 crore more, Rural Sector Rs 4817 crore, up by Rs 342 crore, Animal and Sheep Husbandry and Fisheries Rs 338 crore, increase of Rs 36 crore, Industries and Commerce Rs 648 crore, Rs 291 crore extra, Social Security Sector Rs 174 crore, which is hike of Rs 59 crore, Jal Shakti Department has been given steep hike of Rs 5102 crore in next year’s financial budget with total allocation of Rs 6346 crore while Housing and Urban Development sector gets Rs 2710 crore, up by Rs 1432 crore from current year. Education sector has been allocated Rs 1873 crore, Rs 523 crore extra than this fiscal year.

Tourism and Culture sectors get Rs 786 crore, a hike of Rs 509 crore from this year’s budget, Rs 513 crore for Sports, up by Rs 17 crore, Rs 218 crore for Forests, Ecology and Environment, up by Rs 3 crore and Rs 214 crore for Science and Technology and Information technology.

Rs 846 crore have been earmarked for Kashmiri migrants. Total revenue budget of the Administrative sector is Rs 12460 crore, of which 71 percent will be spent on Home Department, the total budget of the Social sector is Rs 21691 crore, of which 51 percent is likely to be spent on Education Department, total revenue budget of Infrastructure Sector is Rs 29059 crore, of which 60 percent will be spent through the Financial Department and total revenue budget of Economic sector is Rs 5464 crore, of which, 28 percent is likely to be spent on Forest department.