The administration of the union territory of Jammu and Kashmir on Thursday described the union budget as a step towards strengthening the infrastructure and economy of Jammu and Kashmir.
The Union Territory has received Rs 35,581.44 Crore under Central Government Aid, Grants and Loans for the financial year 2022-2023, which is Rs 877 Crore more than the amount granted last year, he said in a statement posted here. . Describing the new budget as very significant in terms of development aspects for the union territory, he said a total of Rs 34,704 crore was granted to Jammu and Kashmir in the previous year.
He also referred to the finance minister’s budget speech announcing a “huge” amount in grants to the Union Territory for Chenab energy projects, a special scholarship scheme, an industrial development scheme, an institute of high altitude medicinal plants under a package for a particular category of States.
According to the budget, Rs 260 crore has been allocated for industrial development and Rs 225 crore for scholarships. Rs 273 crore has been allocated for the rehabilitation of people living in Dal Lake and Nagin Lake areas. And Rs 279 crore has been allocated as grants to the Union Territory Disaster Relief Fund, while Rs 4 crore is earmarked for the establishment of the High Altitude Medicinal Plant Institute Bhaderwah, according to the statement.
Also, as per budget, the 800MW Ratle Power Project and the 624MW Kiru Power Project have received Rs 476 crore and Rs 130 crore respectively. These two projects are being constructed on the Chenab River in Kishtwar district. For capital expenditure, Rs 500 crore has also been allocated for the Union Territory.
Under the “vibrant villages program”, border villages with small populations, limited connectivity and poor infrastructure will get development gains, the statement said, adding that this will include village infrastructure, housing, tourist resorts , road connectivity, decentralized renewable energy supply, direct door-to-door access to Doordarshan and educational channels as well as livelihood generation support. Additional funding for these activities will be earmarked. Existing schemes will also be covered and their results will be continuously defined and monitored.
Lieutenant Governor Manoj Sinha welcomed the Center’s announcement of the launch of the Parvat Mala program. This program will create a modern transportation system on mountains and hilly terrain. As a preferred and environmentally sustainable alternative to conventional roads in the harsh hilly regions of Jammu and Kashmir, a national cable car development program will be undertaken in public-private partnership mode. The goal of the program is to improve connectivity and convenience for commuters, in addition to promoting tourism. It will also cover congested urban areas where conventional mass transit systems are not feasible.
The Parvat Mala program is driven by “seven engines” – roads, railways, airports, ports, public transport, waterways and logistics infrastructure. These “drivers” are complemented by energy transport, information technology, bulk water and sanitation, and social infrastructure.
Finally, the approach is powered by clean energy and Sabka Prayas – the joint efforts of the Centre, the Union Territory and the private sector – leading to “enormous” employment and entrepreneurial opportunities for all. The proposals will bring more reforms that will advance the vision of a prosperous India.
Finance Minister Nirmala Sitharaman on Tuesday presented the budget with a total outlay of Rs 39.45 lakh crore for 2022-23 in Parliament. The budget aims to lay the groundwork and give a blueprint to lead the economy through the “Amrit Kaal” of the next 25 years – from India 75 to India 100. Its core principles include the transparency of financial statements and fiscal status, reflecting the government’s intent, strengths and challenges in building a robust economy, the statement said.
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