Jammu and Kashmir Chief Minister Omar Abdullah presented the Union Territory's budget for the fiscal year 2025-26, marking the first budget by an elected government in seven years. The budget emphasizes inclusive growth, fiscal prudence, and strategic investments across various sectors. Here are the 10 key takeaways:
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Agriculture and Horticulture: An allocation of ₹815 crore aims to generate 2.88 lakh jobs, promote a two-crop pattern, and expand horticulture activities.
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Tourism Development: ₹390.20 crore has been earmarked to boost tourism, with plans to increase homestays, promote water sports, and develop Sonmarg as a winter sports destination.
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Infrastructure Enhancement: The budget proposes black-topping 4,000 kilometers of road length and completing 60 ongoing bridge projects, with an estimated ₹500 crore allocated for road improvements.
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Education Sector: ₹500 crore is allocated to enhance higher education infrastructure, including academic blocks, science labs, and hostels. Additionally, 5.75 lakh elementary students will receive free textbooks.
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Women's Empowerment: Initiatives include the 'Lakhpati Didi' scheme, aiming to assist 40,000 women, and the enhancement of the Marriage Assistance Scheme grant from ₹50,000 to ₹75,000 for girls from economically weaker sections.
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Social Welfare: The budget proposes 200 units of free electricity per month and 10 kg of free ration per person for families under the Antyodaya Anna Yojana, starting April 1.
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Industrial Development: Plans to develop 46 new industrial estates with a provision of ₹310 crore, alongside upgrading existing estates with ₹100 crore, aim to boost local industries and employment.
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Healthcare Improvements: The budget emphasizes enhancing healthcare infrastructure and services, reflecting the government's commitment to improving public health.
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Support for Entrepreneurs: A ₹50 crore allocation is set to provide financial aid, mentorship, and incubation support for emerging entrepreneurs, fostering innovation and economic growth.
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Fiscal Prudence: The budget estimates revenue receipts at ₹97,982 crore and capital receipts at ₹14,328 crore, with revenue expenditure projected at ₹79,703 crore and capital expenditure at ₹32,607 crore, aiming for a zero-deficit budget.
This comprehensive budget reflects the government's dedication to sustainable development, social welfare, and economic stability in Jammu and Kashmir.
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