Srinagar (Jammu and Kashmir): The Narendra Modi-led NDA government at the Centre has allocated Rs 42,277.74 crore to Jammu and Kashmir in the Union Budget for 2024-25, marking a 1.2% increase from the Rs 41,751.44 crore allocated in the previous fiscal year. Finance Minister Nirmala Sitharaman presented the budget in the Lok Sabha on Tuesday.
Of the total allocation, Rs 40,619.3 crore has been designated as Central Assistance to Union Territories to bridge the resource gap in Jammu and Kashmir. This includes Rs 7,900 crore as an advance from the Contingency Fund of India, which will be recouped after the Demands for Grants for 2024-25 are passed by Parliament and the Appropriation Act receives presidential assent.
The budget also earmarks Rs 279 crore for Jammu and Kashmir as grants towards the Union Territory Disaster Response Fund to address natural calamities. Additionally, Rs 130 crore has been allocated for the 624-MW Kiru Hydro Electric Project, and Rs 476.44 crore for the 800-MW Ratle Hydro Electric Project. Furthermore, Rs 500 crore has been provided for the Jhelum and Tawi Flood Recovery Project.
An allocation of Rs 171.23 crore has been made for the 540-MW KWR Hydro Electric Project, while Rs 101.77 crore is set aside to support capital expenditure for infrastructure projects in the Union Territory. Beyond the primary budget, the Centre has allocated an additional Rs 9,789.42 crore for the Jammu and Kashmir Police.
Meanwhile the Centre has allocated Rs 5958 crore to Ladakh Union Territory.
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