New Delhi, July 23: The Centre has allocated Rs 42,277.74 crore to Jammu and Kashmir in the Union Budget for 2024-25, representing a modest 1.2 percent increase from the Rs 41,751.44 crore provided to the Union Territory in the previous fiscal year.
In the budget presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on Tuesday, Rs 40,619.3 crore has been earmarked as Central Assistance to Union Territories to address the resource gap in Jammu and Kashmir. This allocation includes Rs 7,900 crore sanctioned 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 connected Appropriation Act is assented to by the president, according to the budget document.
The government has allocated Rs 279 crore to Jammu and Kashmir as grants towards the Union Territory Disaster Response Fund to cover expenses related to mitigating natural disasters. Additionally, Rs 130 crore has been allocated as grants towards equity contribution for the 624-MW Kiru Hydro Electric Project (HEP), while Rs 476.44 crore has been granted for equity in the 800-MW Ratle HEP. Furthermore, a grant of Rs 500 crore has been provided for the Jhelum and Tawi Flood Recovery Project (JTFRP).
The budget also allocates Rs 171.23 crore for equity contribution towards the 540-MW KWR HEP and Rs 101.77 crore to support capital expenditure to meet the resource-gap funding for infrastructure projects in the Union Territory.
In addition to the total budget allocation of Rs 42,277.74 crore, the Centre has allocated Rs 9,789.42 crore to the Jammu and Kashmir Police.
