February 1, 2023
1 min read

Union budget allocates Rs 35581 crore for J&K

According to the documents, there has been massive hike in revised estimates for the current financial year…reports Asian Lite News

In order to revamp the economy and strive to fulfill people’s hopes, aspirations Union Finance Minister Nirmala Sitharaman presented Union Budget 2023-24 in the Parliament on February 1, 2023.

The Union Territory of Jammu & Kashmir has been allocated Rs 35581 crore in the Union budget presented by finance minister.

The budget documents available with news agency reveal that Jammu & Kashmir has been allocated Rs 35581 crore in the Union budget for 2023-24.

According to the documents, there has been massive hike in revised estimates for the current financial year. The revised estimates for UT have been hiked to Rs 44538 against budget estimates of Rs 35581 crore.

Lieutenant Governor, Manoj Sinha has expressed his gratitude to Finance Minister Nirmala Sitharaman and Prime Minister Narendra Modi for the first budget of Amrit Kaal. The budget is to ensure sustained, equitable & inclusive growth and to achieve the milestone of 5 Trillion Dollar economy & to transform India into a global powerhouse, Sinha tweeted.

People’s Democratic Party (PDP) chief Mehbooba Mufti slammed the union budget as ‘its not a people friendly one’. ”The budget presented by Union Finance Minister Nirmala Sitharaman is the same as the ones presented by the BJP-led government over the last eight-nine years.

Taxes have increased and money is not being spent on welfare schemes or subsidies. Taxes are being amassed for their crony capitalists. The taxes imposed should have benefitted the people, but they have broken their backs”, the former Jammu and Kashmir chief minister told to media.

ALSO READ-Pre-poll budget showers sops

READ MORE-Budget 2023: Capex outlay hiked to all-time high

Previous Story

Teachers prepare to strike in England

Next Story

Reforming multilateral banks discussed at first G20 Finance Meeting

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

India stays out of Indo-Pacific trade pillar

Trade is one of the four pillars of this trade

Why is India promoting 2023 as Year of Millets?

For the uninitiated, the United Nations declared 2023 to be