J&K Budget draws mixed reactions in Kashmir

Abrar Ahmad, renowned trade leader and president of Batamaloo Traders Federation said that the budget has more revenue expenditure than capital expenditure. "We expected the Capital expenditure to be more as business community is going through a slump since 2014 floods," he said.

Srinagar: Finance Minister Nirmala Sitharaman on Monday presented a Rs 1.42-lakh-crore budget for Jammu and Kashmir for the year 2022-23 in Lok Sabha, amid opposition accusations that the government was rushing the proposals through Parliament. Sitharaman also presented the supplementary demands for the year 2021-22 totalling Rs 18,860.32 crore for the Union Territory.

The budget has kept Rs 71,615 crore as revenue expenditure and Rs 41,335 crore as capital expenditure. Opposition members objected to the government move to present the J&K Budget and discuss it in the House on the same day, contending that members will not get adequate time to study the proposals.

Congress member Manish Tewari and RSP member N K Premachandran objected to the motion moved by Sitharaman, alleging it was in violation of the rules of procedure of the House. Some rules are beyond the amending powers of the House, Tewari, a Congress member from Anandpur Sahib, said.

The budget drew mixed reactions from traders and political parties in Jammu and Kashmir. Abrar Ahmad, renowned trade leader and president of Batamaloo Traders Federation said that the budget has more revenue expenditure than capital expenditure. "We expected the Capital expenditure to be more as business community is going through a slump since 2014 floods," he said.

He said that floods followed by subsequent uncertain situation had devastated the trade sector in the union territory and as such its restoration should be paramount for the government. "We expected the government will announce interest subvention, relief in taxes and other financial measures for small sector trades, yet there is nothing about it in the budget," he said.

The Jammu and Kashmir Pradesh Congress Committee expressed disappointment over the budgetary allocations for Jammu and Kashmir and said it lacked provisions to create job opportunities besides addressing large needs of developmental aspects and infrastructure creation. JKPCC Chief spokesperson Ravinder Sharma said that only forty percent is allocated to all departments while sixty percent allocations are for revenue department only, which is not fair to other sectors. He said limited enhancement in budget would fail to meet the large scale developmental needs.