J&K: Governor Satya Pal Malik approves Rs 88,911 cr state budget for 2019-20

Governor of Jammu and Kashmir Satya Pal Malik at Raj Bhawan, Srinagar. (Express Photo by Shuaib Masoodi)

Jammu and Kashmir Governor Satya Pal Malik’s administration on Saturday approved Rs 88,911 crore budget for 2019-20 fiscal to give a massive push to the public infrastructure. The approval came at a meeting of State Administrative Council (SAC) chaired by governor Malik. It is Rs 8,598 crore more than the 2018-19 budget which was presented in the State Assembly in January last year.

The SAC meeting was attended by, among others, Malik’s all three Advisors — K Vijay Kumar, Khurshid Ahmad Ganai and Kewal Kumar Sharma, and Chief Secretary BVR Subrahmanyam. Principal Secretary Finance, Navin K Choudhary also gave a detailed presentation to the SAC on the Revised Estimates for 2018-19, Budget Estimates for 2019-20 and other key features of the budget.

The SAC was informed that the focus of the 2019-20 budget is to give a big push to tangible developmental initiatives with Rs 30,469 crore earmarked for building public and social infrastructure in addition to Rs 3631 crore already provided under Languishing Projects Programme.

According to Chief Secretary, BVR Subrahmanyam, the budget is structured around three fundamental objectives of building infrastructure, building institutions and building systems under the government’s overarching mission for delivering development and mission on good governance. It is aimed at driving the state’s economic growth through multifarious initiatives with thrust on substantive developmental and welfare measures.