Budget 2024-25:
- The Budget 2024-25 reflects the felt needs and aspirations of the people of J&K and commitment of the UT Administration for peace, progress and prosperity.
- The immediate goal is to accelerate the pace of economic development in the UT of J&K and make it multi-dimensional.
- The budget 2024-25 is primarily a “Growth-Oriented” budget and in line with the endeavours of the UT Government to double its economy in the next few years.
Budget Size/Key figures:
- The size of the Budget for 2024-25 is Rs. 1,18,728 crore as against Rs. 1,18,500 in 2023-24.
- Revenue Receipt Estimates for 2024-25 is Rs 97,861 crore and Capital Receipt Estimate is Rs 20,867 crore.
- Revenue Expenditure for 2024-25 is pegged at Rs. 80,162 crore with sector-wise allocations as under;
- Administrative Sector Rs. 12,580 crore.
- Social Sector Rs. 24600 crore.
- Infrastructure Sector Rs. 12,675 crore.
- Economic Sector Rs. 5,306 crore.
- Capital Expenditure (i.e Developmental Expenditure) for 2024-25 is Rs. 38,566 crore with broad sectoral allocation as under;
- Administrative Sector Rs. 1,362 crore.
- Social Sector Rs. 3,779 crore.
- Infrastructure Sector Rs. 13,512 crore.
- Economic Sector Rs. 6854 crore.
- Capital Expenditure contribution towards GDP is 14.64%.
- GDP for the year 2024-25 has been projected at Rs 2,63,399 crore which shows a growth of 7.5%.
- The tax/Gross Domestic Product (GDP) ratio for 2024-25 has been projected at 7.84 percent which is just higher than previous year’s 6.56 percent.
