The budget for the financial year 2024-25 aims to be a growth-oriented blueprint, addressing the aspirations and needs of the citizens of Jammu and Kashmir. The total receipts amount to ₹1,18,390 crore, comprising ₹98,719 crore in revenue receipts and ₹19,671 crore in capital receipts. The total expenditure matches the receipts at ₹1,18,390 crore, with revenue expenditure at ₹81,486 crore and capital expenditure at ₹36,904 crore. The fiscal deficit stands at ₹7,902 crore, which is 3.00% of the Gross State Domestic Product (GSDP), expected to be ₹2,63,399 crore with a projected growth rate of 7.5%. The capital expenditure is set to contribute 14.01% towards the GSDP.
The budget highlights several key focus areas, including building physical and social infrastructure, strengthening governance and grassroots democracy, promoting sustainable agriculture and industrial growth, nurturing employment generation, and responsible tourism, and emphasizing women empowerment and social inclusion. The expenditure pattern reflects significant investment in these areas, with substantial allocations towards centrally sponsored schemes, own taxes, non-tax revenues, central grants, borrowings, and asset monetization.
The sectoral allocation sees significant emphasis on e-governance initiatives, such as physical verification units in Jammu and Srinagar, revitalization of the Public Private Partnership (PPP) and Viability Gap Fund (VGF) cell, and the full implementation of PM Gati Shakti. Advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) are to be employed for effective service delivery, along with the digitization of the judicial system. Revenue expenditure includes substantial outlays for salaries (25%), pensions (12%), interest (9%), power purchases (8%), and capital expenditure (31%).
The budget underscores the importance of agriculture with the establishment of 2,000 Kisan Khidmat Ghars (KKGs) to provide facilities to the farming community. The Holistic Agriculture Development Programme (HADP) aims to boost production and productivity, strengthen seed systems, and create agri-business ecosystems. A USD 100 million loan from the International Fund for Agricultural Development (IFAD) will support the competitiveness improvement project for agriculture and allied sectors. The budget also includes measures to strengthen departmental seed multiplication farms, increase controlled atmosphere storage capacity by 25,000 MTs, and establish 3,000 dairy units, among other initiatives.
The rural development agenda includes generating 400 lakh mandays under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) and training around 7,000 candidates under the HIMAYAT scheme. The budget targets the construction of 12,000 additional Self Help Groups (SHGs) and 600 new panchayat ghars with 100% internet connectivity. It also plans to construct 80,000 houses under the Pradhan Mantri Awas Yojana Gramin (PMAY-G) and implement solid/liquid waste management facilities in six villages.
Tourism development is a key priority with infrastructure projects in 12 off-beat destinations and the development of Keran as a border tourist village. Initiatives include the creation of cultural centers, the modernization of the Shri Pratap Singh (SPS) Museum in Srinagar, and the promotion of Sufism through structured programs. The budget also focuses on digitizing libraries and enhancing tourism appeal in lesser-known areas to expand local business and job opportunities.
Environmental conservation efforts include planting 190 lakh native trees and implementing low-cost greening interventions. Urban local bodies will have Nagar Vans, Nagar Vatikas, or Eco Parks, and farmers will receive 10 lakh saplings of economically important species. The budget also emphasizes developing infrastructure at wetlands for eco-tourism, establishing Continuous Ambient Air Quality Monitoring Stations, and implementing innovative water conservation techniques.
The cooperative sector will see the establishment of Micro Food Processing Units to create employment opportunities, especially in rural areas. The budget plans to construct mini super bazaars at various levels and establish grain storage units in districts lacking such facilities under the “World’s Largest Grain Storage” scheme.
Healthcare enhancements include making two Cancer Institutes in Jammu and Srinagar fully operational and increasing DNB seats to 400 to improve the availability of specialists. The budget aims for 100% screening of the 30+ age population for hypertension and diabetes, strengthening dialysis services, and making AIIMS, Awantipora functional by March 2025. It also targets achieving TB-free status in all remaining districts.
The education sector will benefit from the establishment of 2,176 new kindergartens and infrastructure upgrades in 389 schools under the Pradhan Mantri Schools for Rising India (PM SHRI) Scheme. The budget allocates funds for annual library grants, fortified rice for students under the Mid-Day Meal Scheme, and vocational education in 554 new schools. It also includes the construction of new colleges, establishment of robotic and virtual reality labs, and promoting literacy among adults.
Social welfare initiatives include covering all persons with disabilities under the Nirmaya Health Insurance Scheme and operationalizing Vatsalya Sadans for intellectually challenged individuals. The budget targets upgrading 653 Anganwadi Centres, establishing Shakti Sadan and Sakhi Niwas, and supporting women beneficiaries under self-employment schemes. It also includes the provision of smart cards and transit accommodations for the migratory tribal population.
The budget aims to complete the construction of 1,500 flats for Kashmiri Migrant employees and fill the remaining 276 posts under the PM-Package for Kashmiri Migrants in 2024-25.
Sports and youth engagement will see 75 lakh youth participating in various events, with 200 playfields and 100 sports courts to be constructed. The budget also includes the completion of swimming pools and organizing 20 national sports events.
The budget focuses on creating an ecosystem for promoting enterprises and self-employment, generating over 5 lakh opportunities for self-employment, and introducing new age courses in 10 Industrial Training Institutes. It also plans to organize placement drives, provide financial support for self-employment ventures, and conduct outreach and counseling activities for job seekers.
The budget plans to provide an additional 10 kg of rice per month to Priority Households under the Prime Ministers Food Supplementation Scheme, complete e-KYC for all beneficiaries, and roll out Smart PDS in Jammu and Kashmir.
The power sector will benefit from smart metering for all consumers, implementation of loss reduction works, and the extension of grid connectivity to the Holy Shri Amarnath Ji cave. The budget also includes improving HT/LT lines, augmenting sub-stations, and providing reliable power supply to remote areas.
The budget targets the completion of 2,480 water supply schemes under the Jal Jeevan Mission to achieve 100% tap water connections. It also includes the training of Nal Jal Mitras, completion of flood control schemes, and commissioning of the Shahpur Kandi Dam project.
Urban development initiatives include implementing sewerage treatment plants, completing the UT Water Action Plan under AMRUT 2.0, and developing Smart Integrated Satellite Townships. The budget also focuses on pollution abatement projects, finalizing master plans for all cities/towns, and constructing modern abattoirs.
The budget targets black-topping 5,000 kilometers of road, executing new projects under NABARD, and completing 60 ongoing bridges. It also emphasizes the development of new industrial estates to attract investment and create employment opportunities.
Industrial development will be rapid with the establishment of 46 new industrial estates, the introduction of a new start-up policy, and upgrading infrastructure in existing estates. The budget expects 324 units to come into production, providing employment to 18,000 people.
The budget includes replacing 4,000 AC agriculture pumps with solar pumps and installing 4 MW rooftop solar power plants on government buildings. The phased solarization of 22,494 government buildings is also planned.
While the 2024-25 budget for Jammu and Kashmir sets an ambitious and comprehensive agenda, it also faces significant challenges. The reliance on substantial capital expenditure to drive growth hinges on effective and timely implementation, which has historically been an issue. The ambitious targets for healthcare, education, and infrastructure development demand robust governance and seamless coordination across various departments. Furthermore, the fiscal deficit at 3.00% of the GSDP indicates a delicate balance between growth aspirations and financial prudence. The success of this budget will ultimately depend on the administration’s ability to translate these well-intentioned plans into tangible outcomes, ensuring that the benefits reach the grassroots level without being mired in bureaucratic delays and inefficiencies. As such, while the vision is commendable, the execution remains the critical determinant of its impact on the socio-economic landscape of the region.
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