Rs 42,277.74 crore has been allocated to Jammu and Kashmir in the Union Budget 2024, reflecting a modest increase of 1.2 per cent over the previous fiscal year.
Finance Minister Nirmala Sitharaman presented the Union Budget in the Lok Sabha today, designating Rs 42,277.74 crore for Jammu and Kashmir for the fiscal year 2024–25.
This represents a 1.2 per cent increase from the Rs 41,751.44 crore allocated last year.
A substantial portion, Rs 40,619.3 crore, is marked as Central Assistance to Union Territories to address the resource gap in Jammu and Kashmir.
Additionally, Rs 7,900 crore has been earmarked as advance from the Contingency Fund of India, which will be reimbursed once the Demands for Grants for 2024–25 are approved by Parliament and the related Appropriation Act is sanctioned by the President.
The budget also includes Rs 279 crore for the Union Territory Disaster Response Fund to manage disaster-related expenses.
For infrastructure projects, Rs101.77 crore has been set aside to support Jammu and Kashmir's capital expenditure.
In terms of energy projects, the government has granted Rs 130 crore for the 624-MW Kiru Hydro Electric Project (HEP),Rs₹476.44 crore for the 800-MW Ratle HEP, and Rs 171.23 crore for the 540-MW KWR HEP.
Additionally, Rs 500 crore has been allocated for the Jhelum and Tawi Flood Recovery Project (JTFRP).
Jammu and Kashmir Police will receive Rs 9,789.42 crore, adding to the total budget allocation for the Union Territory.
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