Union Finance Minister Nirmala Sitharaman presented the interim union budget for the fiscal year 2024-25 in the Lok Sabha on Thursday, revealing an allocation of Rs 37,277.74 crore for the Union Territory of Jammu and Kashmir.
In the detailed breakdown, a substantial portion of Rs 35,619.30 crore has been earmarked specifically for bridging the resource gap in Jammu and Kashmir. This allocation underscores the government’s commitment to supporting and enhancing the economic development and infrastructure of the Union Territory.
As the last budget of the Prime Minister Modi-led government before the upcoming Lok Sabha elections scheduled for April-May this year, the budget signifies the government’s financial priorities and focus areas for the upcoming fiscal year. The allocation for Jammu and Kashmir reflects the government’s dedication to addressing regional needs and fostering growth in the Union Territory.