New Delhi- 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.
This allocation is substantially lower than the current fiscal’s revised estimate of Rs 44,538.13 crore The central assistance given to the union territory is to meet the resource gap and a special fiscal support of Rs 9,486.13 crore.
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.
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.
The Budget allocated Rs 5,987.14 crore to Andaman and Nicobar Islands as against Rs 5,508.05 crore allocated in 2022-23. Rs 5436.10 crore has been allocated to Chandigarh as against Rs 5,131.12 crore in the current fiscal.
The Budget allocated Rs 2,475.00 to Dadra and Nagar Haveli and Daman and Diu, Rs 5,958 crore to Ladakh, Rs 1,394.75 crore to Lakshadweep, Rs 1,168.01 crore to Delhi and Rs 3,117.77 crore to Puducherry.
LG Thanks PM Modi, Sitharaman
The Lieutenant Governor, Manoj Sinha on Wednesday expressed gratitude to Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi for the first budget of Amrit Kaal that will put the country on a faster, sustainable and more inclusive growth path to achieve the goal of a 5 Trillion Dollar economy.
According to an official spokesperson, the LG said that the first budget of Amrit Kaal presented by Sitharaman under the guidance of Prime Minister is to ensure sustained, equitable & inclusive growth and to achieve the milestone of 5 Trillion Dollar economy & to transform India into a global powerhouse.
He said that the vision for Amrit Kaal-opportunities for citizens with focus on youth, growth & job creation, strong & stable macro-economic environment and priorities to farmers, women, marginalised sections, middle class & infrastructure will put the economy to its optimum growth path.
“Increased investment on infrastructure and employment generation, green growth, agriculture accelerator fund, targeted funding for animal husbandry & Atmanirbhar Bharat Horticulture Clean Plant Programme & tourism promotion will have a force multiplier impact on economy,” Sinha said.
“Rapid growth & welfare of Aam Aadmi is at the centre of Budget 2023-24. Grateful to the Finance Minister Smt. Nirmala Sitharaman Ji & Hon’ble Prime Minister Shri Narendra Modi Ji for accelerating the tempo of growth in Handloom & Handicraft sector through PM VIKAS. It will greatly benefit lakhs of Artisans of J&K UT,” he added.