Finance Minister: 50,000 Jobs Declared for J&K Making it One of the Fastest Growing Union Territory
Giving major boost to employment in the newly created Union Territory of J&K, Budget of Rs 101,428 crore passed.
Government has put forward an over Rs. 1.01 lakh crore Budget for the Jammu and Kashmir for 2020-21. Thus, it has put forward 50,000 jobs in the Government sector backed by the budgetary allocation of Rs 2000 crore. It announced the introduction of 3 religious circuits to re-energize the tourist industry and making it the highest ever budget contemplate for the region.
The budget was put forward in both houses Parliament. It stated that out of total budget estimates of Rs 1,01,428 crore for 2020-21, Union Territory will have Rs 38,764 crore for development an increase of 27 percent. It expressed hope to achieve GSDP growth of 11 percent making J&K one of the fastest-growing Union Territories.
Finance minister Nirmala Sitharaman said that the Budget was "an indicator of our commitment to make J&K a model of development" after seeking approval of expenditure from Parliament.
She added that "The total budget estimates for the fiscal year 2020-2021 is Rs. 1,01,428 crore, of which developmental expenditure is of the order of R. 38,764 crore, an increase of 27%. We hope to achieve GSDP growth of 11%, making the UT one of the fastest-growing UTs".
What all is included in J&K budget:-
• GSDP/Tax ratio - 6.59pc.
• Rs 38,764 cr for development in 2020-21
• Last month Budget for 2019-20 Rs 55,317 cr
• Digital dispensaries in each district - 20.
• Playgrounds for every Panchayat.
• 86 Jan Aushadi Kendras to be set up
• Dal, Wular lakes - Rs 50 cr
• Tourism, Culture sectors - Rs 706 cr.
• A major boost to rural development - Rs 5284 cr.
• Taking care of Rehab needs of PoK, WP refugees.
• For Education - Rs 300 cr
• For Health - Rs 1268 cr
• Rs 607 cr provision for power reforms.