Srinagar (Jammu and Kashmir): The Lok Sabha on Tuesday approved the budget for the Union Territory of Jammu and Kashmir by a voice vote, alongside the Rs 48.21 trillion Union Budget for 2024-25.
The passage of both budgets, including the relevant appropriation bills, was accomplished via a voice vote in the Lok Sabha.
During the debate, Finance Minister Nirmala Sitharaman announced that the central government's fiscal deficit is projected to decrease to 4.9% of GDP in 2024-25 and further to below 4.5% by 2025-26.
Sitharaman highlighted India's status as the world's fastest-growing economy, attributing its resilience in overcoming the lingering impacts of the COVID-19 pandemic to the Modi government's robust capital expenditure initiatives. The finance minister also highlighted the Rs 17000 crore financial allocation for J&K in this year’s Union Budget.
In opposition, Congress leader Rahul Gandhi cited the Hindu epic Mahabharata, suggesting that Prime Minister Narendra Modi has ensnared India in a modern 'chakravyuh,' akin to the trap set for Abhimanyu by the Kauravas. He claimed that six individuals are central to this 'chakravyuh': Modi, Union Home Minister Amit Shah, National Security Advisor Ajit Doval, RSS Chief Mohan Bhagwat, and industrialists Mukesh Ambani and Gautam Adani.
The budget was initially presented by Finance Minister Sitharaman on July 23, followed by extensive discussions and debates in both houses of Parliament.
Over a question by Member of Parliament Mian Altaf Ahmed about the welfare of tribals in J&K, the finance minister said that several initiatives have been undertaken in the region including multiple projects to support tribal communities in healthcare, education, and cultural initiatives. She said that after two decades, forest rights have been guaranteed to tribal communities, with 5,943 forest rights certificates issued so far.
