FM to unveil J&K’s interim budget for 2024-25 on Monday

Jammu & Kashmir interim budget for 2024-25 would be presented in the Parliament on Monday, which will be presented by Finance Minister Nirmala Sitharaman, according to revised list of business issued by Lok Sabha secretariat.

This would be the 5th consecutive budget of Jammu and Kashmir to be present in the Parliament after imposition of Central rule. This is being done as J&K Assembly is currently not in place.

Jammu & Kashmir is without an elected government since June 19, 2018 after BJP withdrew support to Mehbooba Mufti-led government, citing a “deteriorating” security situation in the erstwhile state.

After the collapse of PDP-BJP government, the budget for 2019-20 was approved by then J&K Governor as head of the State Administrative Council. After downgrading of J&K to UT in 2019, all its budgets were presented in the Parliament.

According to the list of business, a copy of which is in possession of news agency that Nirmala Sitharaman would present a statement of estimated receipts and expenditure of Jammu and Kashmir for 2024-25 fiscal year.

The Finance Minister would also present a statement showing the supplementary demands of grants in respect of J&K.

This would be the first time in the past five years when J&K’s budget would be presented in February. All previous four budgets were presented in mid-March. In recent Union budget, J&K was allocated Rs 37277.74 crore mainly to bridge resource gap.

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