MHA submits proposals to Finance Ministry
By: Ibni Maqbool
Srinagar: For the third consecutive year, Jammu and Kashmir Union Territory’s budget would be presented in the parliament.
Sources told The Precious Kashmir that Union Finance Minister Nirmala Sitharaman is expected to present J&K’s annual budget for 2022-23 and revised estimates for 2021-22 in the parliament in March.
“The administration of Jammu & Kashmir has prepared budget proposals after holding discussions with different departments,” they said, adding that J&K administration has submitted these proposals to the Ministry of Home Affairs (MHA).
This newspaper has learnt that MHA has forwarded these proposals to Union Finance Ministry, which will present them in the parliament.
According to sources, the size of J&K’s budget is expected to more than one lakh crore rupees like the past two budgets.
It is worthwhile to mention that J&K was allocated Rs 35581 crore in the Union Budget presented by Finance Minister Nirmala Sitharaman in the parliament on February 01.
Of the allocations, Rs 33923 crore would be utilized resource gap of UT, Rs 279 crore for UT disaster response fund, Rs 273 crore as rehabilitation for Dal- Nageen lake, Rs 130 crore as grants towards equity contribution for 624 MW Kiru, Rs 300 crore as grants towards equity for Rattle 800 MW and Rs 500 crore as support for capital expenditure of UT.
The budget is being presented in the parliament as legislative powers of the J&K assembly are vested with it in absence of an elected government in the UT. Jammu & Kashmir is without an elected government since June 2018 when BJP withdrew support to Mehbooba Mufti-led government, citing deteriorating security situation in the State.
