J&K government presents interim budget

State Finance Minister,Abdul Rahim Rather,presented a Rs 9,503 crore interim budget to meet expenditure on services during first five months of 2009-2010 in the Legislative Assembly.

Written by Ishfaq Naseem | Jammu | Published: March 3, 2009 2:38:36 pm

With the global meltdown having already hit the craft and horticulture industry in the troubled state of Jammu and Kashmir,State Finance Minister,Abdul Rahim Rather,presented a Rs 9,503 crore interim budget to meet expenditure on services during first five months of 2009-2010 in the Legislative Assembly in Jammu on Tuesday.

In view of the model code of conduct,Finance Minister however desisted from making any sops and in fact deferred any such proposals till the Lok Sabha elections were over. Justifying the state government’s decision to go for vote on account,Rather said “for reasons well known to Hon’ble Members,mainly the forthcoming general elections to the Lok Sabha,I am counselling myself some patience and,therefore,to defer my budgetary proposals by a few months till the general elections are over”.

“Insha Allah (God willing),we would be presenting a full budget in July/August this year” he said,adding that it will be a vision document lauding the government’s policies and programmes to usher in an era of all round progress,prosperity and development in the state.

Out of the Rs 9,503 crore expenses,the state will make an expenditure of Rs 6,153 crore as unplanned expenditure,Rs 2,100 crore as planned expenditure,Rs 750 crore under the Prime Minister’s reconstruction plan and expenditure of Rs 500 crore under the centrally sponsored schemes.

Finance Minister said that the state may also face job losses in view of the global meltdown which has affected the business of traders,horticulturists,artisans,transporters and other classes of businessmen.

“The export oriented sectors of Jammu and Kashmir’s economy like horticulture and handicrafts have been affected greatly” the Finance Minister said,adding that this was likely to affect the employment opportunities of weavers,artisans and small entrepreneurs.

Giving details of the revised estimates for the current financial year,the Finance Minister said that the estimated receipts are pegged at Rs 19,077 crore as against the budgetary receipts of 18,443 crore. Out of the revised receipts,Rs 15,812 crore has been estimated as revenue receipts and Rs 3,265 crore as capital receipts.

In the interim budget statement which was prepared by the Finance Minister in Jammu on Monday evening,with government modifying its earlier interim budget statement in view of the model code of conduct,it has presented a revised expenditure of Rs 19,077 crore as against the budgetary expenditure of Rs 18,443 crore in the ongoing financial year. Out of this the total capital expenditure is Rs 6,477 crore and the revenue expenditure is Rs 12,630 crore.

J-K Finance Minister said that the State government will take steps to create an investment friendly environment in Jammu and Kashmir to generate more employment opportunities. “State government shall endeavour not only to prevent job loss,but also to take steps to create new job opportunities for the youth” the Finance Minister said.

Rather also said that his government will focus on empowering women in the field of entrepreneurship,health and education sectors.

“The upliftment of underprivileged sections of our society like physically challenged and old age persons,widows and orphans will remain our priority” the Finance Minister said.

He also said that government was committed to the upliftment of underprivileged sections including the scheduled castes (SCs),scheduled tribes (STs) and backward classes. For the creation of additional job opportunities in the state,he said that tourism will receive the government’s utmost attention.

He said that his government was committed to create a congenial atmosphere in the state for attracting massive investment from outside the state to throw open more job opportunities for the local youth in the private sector.

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