Budget for J&K: Rajya Sabha approves Rs 1-lakh crore budget for Jammu and Kashmir for FY’21

NEW DELHI: Rajya Sabha on Monday approved the bill for the budget of Rs 1-lakh crore for the Union Territory of Jammu and Kashmir for 2020-21.

After approval, the bill was returned to Lok Sabha.

It also approved and returned to Lok Sabha another bill for the budget of Ladakh, as required under rules for money bills.

The bills were approved with voice vote after a debate of over two hours.

The Jammu and Kashmir Appropriation Bills were passed by Lok Sabha on March 19.

The over Rs 1-lakh crore Budget for Jammu and Kashmir for 2020-21 laid emphasis on the development of newly carved-out Union Territory of Jammu and Kashmir, which was made a Union Territory with effect from October 31, 2019.

The total budget estimates for the fiscal is Rs 1,01,428 crore, of which developmental expenditure is of the order of Rs 38,764 crore, an increase of 27 per cent.

The government also presented a separate expenditure plan of Rs 55,317.81 crore for the last five months of the current fiscal.

With regard to the Union territory of Ladakh carved out of the erstwhile state of Jammu and Kashmir, the total Budget Estimates for the past 5 months have been pegged at Rs 5,754 crore. Of this, capital expenditure would be Rs 4,618.35 crore and revenue expenditure would be Rs 1,135.65 crore.

Source Article

Lois C. Ferrara

Next Post

Ford decides to halt production in India, South Africa on coronavirus impact

Mon Mar 23 , 2020
Ford Motor Co said on Monday it has decided to temporarily halt vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus. In India, it began on March 21 and will be followed by other markets, the […]