Holistic development of J&K
03/02/2023
An allocation of Rs 35,581.44 crore in the Union Budget for J&K was announced by the Union Finance Minister Nirmala Sitharaman in Parliament, which he said would provide impetus to the development of Jammu and Kashmir. This reflects the commitment of the government to ensure holistic and inclusive development besides implementation of welfare programmes and execution of various schemes for all segments of the society. Appreciably, the Central grants in the Revised Estimates for ongoing financial year of 2022-23 have been hiked by about Rs 9000 crore and were now pegged at Rs 44538.13 crore. The Jammu and Kashmir administration will 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 2014 floods, rehabilitation, preservation and restoration of Dal-Nageen lake in Srinagar.
As highlighted by your newspaper JOURNEY LINE in yesterday's edition, the Power projects in Jammu and Kashmir have been sanctioned significant funds for expediting construction work while there has been provision for industrial development in J&K and Ladakh in the annual budget. Out of Rs 35581.44 crore worth grants, the Union Ministry of Home Affairs has proposed Rs 130 crore (Revenue) for equity contribution for 624 MW Kiru Hydro Electric Project (HEP), Rs 476.44 crore Revenue grants towards equity for 800 MW Ratle HEP, Rs 500 crore Revenue grant on account of Jhelum Tawi Flood Recovery Project and Rs 171.23 crore Revenue grants for equity contribution of 540 MW KWR HEP. Other grants to Jammu and Kashmir from the total fund included Rs 33923 crore as Central Assistance and Rs 279 crore for Disaster Response Fund. The Ministry of Defence has proposed Rs 1797.74 crore for Jammu and Kashmir Light Infantry.
A good thing about the Budget is that, it had special mention of enhancement of sports facilities in Jammu and Kashmir saying the sector is an important tool towards promotion of peace and prosperity. Sports infrastructure and sports facilities in Jammu and Kashmir will be upgraded and developed with all requisite facilities. Meanwhile, Lieutenant Governor, Manoj Sinha, has 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. What we can say is, Budget 2023-24 is good for all.
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