Jammu, Mar 07: Chief Minister Omar Abdullah on Friday presented a Rs 1.12 lakh crore budget for Jammu & Kashmir for the fiscal 2025-26.
Unveiling the budget in the Assembly, Omar Abdullah, who also serves as finance minister of the UT, announced that total budget estimates for the fiscal 2025-26 are Rs 1,12,310 crore.
“The total net budget estimates for the fiscal are Rs 1,12,310 crore, including the provision for ways and means advances and overdraft,” the CM said, as per KNO.
The CM said that the expected revenue receipts are Rs 97,982 crore and capital receipts are Rs 14328 crore.
He said the state’s own revenue both tax and non-tax revenue, is estimated to be Rs 31905 crore.
The CM said a total of Rs 41000 crore is to flow as central assistance and Rs 13522 crore as centrally sponsored schemes and the Prime Minister’s Development Package (PMDP) to the UT.
Key announcements
CM Omar Abdullah proposed free ration of 10 kilogram per person to all AAY beneficiaries from April 1, 2025.
In his budget speech, Omar Abdullah also proposed enhancement of pension to vulnerable sections of the society including old-aged persons, widows, divorcees and specially –abled persons.
As per the announcement, the pension has been revised to Rs 1250 crore for persons below 60 years of age, Rs 1500 crore for persons aged between 60 and below 80 years and Rs 2000 for persons aged 80 years and above.
He also announced enhancement of financial assistance under the Marriage Assistance Scheme from Rs 50000 to Rs 75000 for AAY category girls.
“I propose starting Ist April 2025, all women will be granted free ridership on government-owned public transport buses, including ebuses,” he said.
The CM also proposed 200 units of free electricity per month to all AAY families in J&K.
“Integrated with the PM Surya Ghar Bijli Yojana, this initiative will enable installation of grid-connected solar systems, generating the required power and eliminating electricity bills,” he said.
He said that Rs 750 crore will be invested in this scheme and it would reduce AT& C losses and promote sustainable energy.
The CM also announced reducing the stamp duty on property gifted to blood relatives to zero.
He also announced the setting up of National Law University and Jammu & Kashmir Skill and Entrepreneurship University.
