Srinagar, Apr 8: Jammu and Kashmir’s financial stability remains heavily dependent on central government grants, with limited internal revenue generation, according to findings by the Comptroller and Auditor General (CAG).
The audit highlighted that a significant portion of the Union Territory’s expenditure is supported through funds received from the central government.
The findings point to a structural reliance on external financial assistance, indicating limited capacity for self-sustained revenue generation.
According to the report, internal revenue sources have not grown proportionately to meet expenditure demands, reinforcing dependence on central support.
The CAG observations underscore the need to strengthen local revenue systems and improve fiscal autonomy to ensure long-term financial sustainability.
The findings highlight broader challenges in achieving financial self-reliance in Jammu and Kashmir. [KNT]
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