Jammu and Kashmir presents Rs.95-bn interim budget

March 3rd, 2009 - 7:38 pm ICT by IANS  

Jammu, March 3 (IANS) Jammu and Kashmir Finance Minister Abdul Rahim Rather Tuesday presented the vote-on-account in the state assembly with a proposed expenditure of Rs.95.03 billion (Rs.9,503 crore) for the first five months of next fiscal.
The minister has also revised estimates for 2008-09 to Rs.190.77 billion against the budget estimate of Rs.184.43 billion.

Rather added that Rs.61.53 billion has been set aside as non-plan expenditure, while the state’s plan expenditure for the period is Rs.21 billion.

He has also proposed to spend Rs.7.5 billion under the Prime Minister’s Reconstruction Plan and Rs.5 billion for executing centrally-sponsored schemes.

Deliberating on the revised estimates for the current fiscal, Rather said the total receipts in 2008-09 are pegged at Rs.190.77 billion as against the budget estimates of Rs.184.43 billion. Out of the revised receipts, Rs.158.12 billion has been estimated as revenue receipts and Rs.32.65 billion as capital receipts.

The revised estimates of expenditure stand at Rs.190.77 billion as against the projected expenditure of Rs.184.43 billion.

The minister added that he wanted to present a full budget, laying down the principles of the Omar Abdullah government for the development of the state. But “we had to defer the budgetary proposals by a few months till the completion of the Lok Sabha elections,” Rather said.

The full budget, he assured, will be presented in July/August.

Rather said the government would take steps to ensure that the entrepreneurs, traders, horticulturists, artisans, transporters and other business establishments are not impacted by the global economic meltdown.

The government would also create an investment friendly atmosphere in the state so that job opportunities will be created, the minister said.

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