Mubashir Aalam Wani
Srinagar, Feb 1: The Union Government on Saturday proposed an allocation of Rs 41,000.07 crore to the Jammu & Kashmir Union Territory for the financial year 2025-26.
As part of fund transfers to Union Territories, the Union Finance Ministry today proposed an allocation of Rs 41,000.07 crore to Jammu & Kashmir Union Territory in the Union Budget for 2025-26.
As per the break-up of financial assistance for Jammu & Kashmir, Rs 40,619.30 crore has been kept as central assistance for J&K to bridge its resource gap. An additional Rs 279 crore has been allocated as grants towards the contribution to the Union Territory Disaster Response Fund, and Rs 101.77 crore to meet resource gap funding for infrastructure projects.
The figures show that J&K’s allocation for the next fiscal is almost Rs 604 crore less than the allocation for 2023-24. As per revised estimates for 2024-25, J&K’s allocation has been reduced by Rs 1277 crore. While the allocation, as per budget estimates, was Rs 42,277.74 crore, it has been revised to Rs 41,000.07 crore.
It is worthwhile to mention that Jammu & Kashmir is heavily dependent on Central assistance in Union Territories. Chief Minister Omar Abdullah had himself met Union Finance Minister Nirmala Sitharaman to seek additional assistance of Rs 6000 crore.
As per the Union Budget, Rs 4692.15 crore has been allocated for the Union Territory of Ladakh for 2025-26. Of this, Rs 2450 crore has been kept as revenue expenditure and Rs 2242.15 crore as capital expenditure. (KNO)
