NEW DELHI. JULY 23: The Central government Tuesday allocated Rs 42,277.74 crore to Jammu and Kashmir, and an additional amount of Rs 9,789.42 crore to the Jammu and Kashmir Police, in the Union Budget for 2024-25.
The allocation saw a nominal increase of 1.2 percent from the Rs 41,751.44 crore given to the erstwhile state in the last financial year.
The Union Budget 2024, presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday, Rs 40,619.3 crore have been allocated as Central Assistance to Union Territories to meet the resource gap in Jammu and Kashmir.
As per the budget document, the sum also includes an amount of Rs 7,900 crore, sanctioned as advance from the Contingency Fund of India that shall stand recouped to the fund after the Demands for Grants for 2024-25 is passed by Parliament and the connected Appropriation Act assented to by the president.
Additionally, the Centre has allocated Rs 279 crore to Jammu and Kashmir as grants towards contribution to the Union Territory Disaster Response Fund to meet the expenditure on account of mitigation of disasters caused due to natural calamities, the document revealed.
Rs 130 crore has been allocated to the Union Territory as grants towards the equity contribution for the 624-MW Kiru Hydro Electric Project (HEP), while an amount of Rs 476.44 crore has been granted towards equity for the 800-MW Ratle HEP, according to the document.
“Besides, a grant of Rs 500 crore has been provided to meet the expenditure on account of the Jhelum and Tawi Flood Recovery Project (JTFRP),” it stated.
The Centre has also allocated Rs 171.23 crore to Jammu and Kashmir as grants for equity contribution for the 540-MW KWR HEP, while Rs 101.77 crore has been given as support for the Union Territory’s capital expenditure to meet the resource-gap funding for infrastructure projects, the budget document said.
The document also revealed that Rs 9,789.42 crore has been allocated to the Jammu and Kashmir Police, in addition to the total budget of Rs 42,277.74 crore for the former state.
