Budget will boost Jammu & Kashmir infrastructure and economy, says L G Manoj Sinha

It also referred to the budget speech of the finance minister announcing an “enormous” amount as grants to the Union Territory for the power projects of Chenab, a special scholarship scheme, an industrial development scheme, an institute of high-altitude medicinal plants under a package for a special category of states.

As per the budget, Rs 260 crore has been allocated for industrial development and Rs 225 crore for scholarships. Rs 273 crore has been allotted for rehabilitation of people living within the Dal Lake and Nagin Lake areas. And Rs 279 crore has been allocated as grants for the Union Territory’s Disaster Response Fund whereas Rs 4 crore is set aside for setting up the institute of high-altitude medicinal plants at Bhaderwah, the statement said.

Moreover, as per the budget, the 800MW Ratle power project and the 624MW Kiru power project have been granted Rs 476 crore and Rs130 crore respectively. Both these 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 village programme’, 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 centres, road connectivity, provisioning of decentralized renewable energy, direct-to-home access to Doordarshan and educational channels as well as support for livelihood generation. Additional funding for these activities will be earmarked. Existing schemes will also be covered and their outcome will be defined and monitored constantly.

Lieutenant Governor Manoj Sinha welcomed the announcement made by the Centre for starting the Parvat Mala scheme. This scheme will create a modern system of transportation on the mountains and hilly terrains. As a preferred and ecologically sustainable alternative to conventional roads in the difficult hilly areas of Jammu & Kashmir, a national ropeway development programme will be taken up in the public-private partnership mode. The objective of the programme is to improve connectivity and convenience for commuters, besides promoting tourism. This will also cover congested urban areas where conventional mass transit systems are not feasible.

The Parvat Mala scheme is driven by “seven engines”—roads, railways, airports, ports, mass transport, waterways and logistics Infrastructure. These “engines” are complemented by energy transmission, information technology, bulk water and sewerage, and social infrastructure.

Finally, the approach is powered by clean energy and Sabka Prayas–joint efforts of the Centre, the Union Territory and the private sector–leading to “huge” job and entrepreneurial opportunities for all. The proposals will bring more reforms that will take ahead the vision of a prosperous India.

Finance Minister Nirmala Sitharaman on Tuesday presented the budget with a total outlay at Rs 39.45 lakh crore for 2022-23 in Parliament. The budget seeks to lay the foundation and give a blueprint to steer the economy over the “Amrit Kaal” of the next 25 years– from India at 75 to India at 100. Its fundamental tenets include transparency of financial statements and fiscal position, reflecting the government’s intent, strengths and challenges to build a robust economy, the statement said.