New Delhi, February 1
Keeping in view the government’s priority and special focus on J&K, Finance Minister Niramala Sitharaman has made an allocation of Rs 35,581.44 crore as part of the Centre’s assistance, grants and loans for the UT. This is Rs 876.98 crore more than last year’s budgetary support. She, however, kept the allocation for Ladakh unchanged at Rs 5,958 crore for the 2022-23 financial year.
The erstwhile state of J&K was reorganised into two UTs — J&K and Ladakh — on August 5, 2019 following the abrogation of Article 370.
While J&K has been given Rs 35,581.44 crore for 2022-23, compared to Rs 34,704.46 crore in 2021-22, Ladakh has been given Rs 5,958, the same as in the current fiscal.
The bulk of the funds — Rs 33,923 crore — in the budget for J&K is under Central assistance. A sum of Rs 273 crore has been allocated as grants towards rehabilitation of Dal Nageen lake and Rs 279 crore has been given as grants towards contribution to UT Disaster Response Fund.
The budget allocated Rs 500 crore as support for capital expenditure of the UT. Rs 476.44 crore has been given as grants towards equity for Ratle 800 MW hydroelectric project and Rs 130 crore has been given as grants towards equity contribution for 624 MW Kiru hydroelectric project.
In case of Ladakh, the power sector has received a substantial boost as Rs 135.37 has been marked for it. The civil aviation and the tourism will together get Rs 73.74 crore.
Rs34,704.46 crore last year
- Allocating Rs35,581.44 crore, the Centre has hiked it by Rs876.98 crore as the last year's budget was Rs34,704.46 crore.
- Rs273 crore is for rehabilitation of Dal Nageen lake, Rs279 cr for UT Disaster Response Fund and Rs500 cr for capital expenditure.
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