Union Finance Minister Nirmala Sitharaman has unveiled Rs 1,18,500 crore budget for Jammu & Kashmir Union Territory for the next financial year. The total budget estimates for the fiscal is Rs. 1,18,500 crore, of which developmental expenditure is of the order of Rs. 41,491 crore. The capital component of the budget has increased substantially.
The expected revenue receipts are Rs 1,06,061 crore whereas Revenue expenditure is expected to be Rs 77,009 crore, thereby making available revenue surplus for capital expenditure to the tune of Rs 29,052 crore. This was the fourth consecutive budget of Jammu and Kashmir to be presented in the Parliament. The budgets of 2020-21, 2021-22, and 2022-23 were also presented in the Parliament in absence of an elected government in the Union Territory.