A substantial allocation for capital expenditure promising investments in crucial infrastructural projects is one of the one of the key feature of this year’s J&K interim budget.
Pushing forward the agenda of sustainable development in Jammu & Kashmir Government for last more than four years the Government is redefining it’s priorities for boosting economy, developing infrastructure and opening up more and more livelihood opportunities for youth year after. In this year’s interim budget presented by Union Finance Minister Nirmala Sitharaman early this week in the parliament the core sectors of economy including industrial investments, tourism, health infrastructure and renewable energy have been once again accorded highest priority with focus on increasing livelihoods through entrepreneurship developmental programs . In the interim budget presented by Union Finance Minister Nirmala Sitharam for the year 2024-25 the plans have been rolled out to encourage industrial investment, develop new offbeat tourist destinations , upgrade health infrastructure and boost solarisation for the purposes of hassle free power supply in both Kashmir Valley and as well as Jammu division . Projection of 7.5% growth in the interim budget for the year 2024-25 shows Central Government’s interest in further restructuring the economy for raising more and more livelihood opportunities in priority sectors like Industries, tourism, transport services, communication and renewable energy. A substantial allocation for capital expenditure promising investments in crucial infrastructural projects is one of the one of the key feature of this year’s J&K interim budget. Since the Jammu & Kashmir Government as per Industrial policy 2021 is already committed to improve the infrastructural facilities for growth of expansion of industrial sector, the major focus as highlighted in the interim budget will most likely be on entrepreneurship development besides power, educational and health infrastructure, civic facilities and transport services across Jammu & Kashmir.
“Since the focus of the interim budget is on generating revenue, creating livelihood opportunities for local communities and preserving cultural heritage, the interim budget shows Government’s consistency implementation of it’s agenda of sustainable development in Jammu & Kashmir.”
Allocation of Rs 660 Crore for hydroelectric projects shows Government’s increasing interest in power generation. Another key feature of the interim budget is that for empowerment of women also the Government has in it’s interim budget has committed itself to launch the most popular women empowerment scheme “Ladli Beti” in Jammu & Kashmir besides Marriage Assistance obviously to further the causes of gender equality and social inclusion. Thrilled by the experiences of steep rise in tourist footfall during last two years the Government has in it’s interim budget also resolved to work intensely on developing newly identified offbeat tourist destinations and heritage sites across Jammu & Kashmir and if all goes according to the plans highlighted in the interim budget the thriving tourism sector could be expanded to many more areas in both Kashmir Valley and Jammu division . Notably the Government’s increasing focus on developing infrastructure in border areas like Gurez shows it’s interest in promoting border tourism as well and developing many more such areas as tourist destinations would surely give a major fillip to border tourism in many more border areas of Jammu & Kashmir . Since the focus of the interim budget is on generating revenue, creating livelihood opportunities for local communities and preserving cultural heritage, the interim budget shows Government’s consistency implementation of it’s agenda of sustainable development in Jammu & Kashmir.
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