LG hails ‘progressive and transformative’ budget for J&K

Lieutenant governor Manoj Sinha on Tuesday expressed gratitude to Prime Minister Narendra Modi and finance minister Nirmala Sitharaman for the “progressive and futuristic budget which will enable rapid transformation of Jammu and Kashmir”. The Lok Sabha on Monday passed budget of Rs 1,12,950 crore for J&K for the fiscal year 2022-23.

Good governance, deepening grass-root democracy, accelerated development and inclusive growth, facilitating investment and industrial were among the focus areas of budget, Sinha said.

The budget puts emphasis on sustainable and equitable growth, more jobs, improving quality of life, education, strengthening skill development, power sector, tourism, handicraft, tribal welfare, women empowerment & border areas development, he added.

Mixed response from traders, political parties

Meanwhile, the budget has evoked mixed response from the traders and political parties.

President of Jammu Chamber of Commerce and Industry (JCCI), Arun Gupta said, “In this Budget, more focus has been accorded to infrastructure development, education and health sectors, besides exploring ways to create more jobs.”

The finance minister has also allocated Rs 150 crores for industrial land development, which is a good initiative, but I feel that funds are not sufficient, given the fact that LG had recently said that Rs 51,000 crores investment will come to J&K, he said. Gupta also regretted that no attention was given to the revival of old industrial units.

Meanwhile, Bari Brahmana Industrial Association (BBIA)— the largest industrial park in J&K, has hailed the budget.

BBIA president Lalit Mahajan thanked the finance minister and appreciated the allocation of Rs 150 crore for the development of new industrial estates to shore up the investment in the region.

The Congress has expressed disappointment over the budgetary allocations and said that it lacked provisions to create job opportunities, besides addressing large needs of developmental aspects and infrastructure creation.

“The budget reflects lack of accountability in expenditures as not the figures, but the funds remain unspent. There are large scale liabilities too, but no allocations, ,” said J&K PCC spokesperson Ravinder Sharma.