JAMMU: Swaran Singh Charak, Chairman, Nations Development Association (NDA) and Sushil Singh Charak, General Secretary Nations Development Association (NDA) expressed gratitude to the Government of India, particularly Finance Minister Nirmala Sitharaman, for allocating ₹42,277.74 crore to Jammu and Kashmir in the Union Budget 2024-25.
The allocation represents a nominal increase of 1.2% over the previous fiscal year. The budget includes:
- ₹40,619.3 crore as Central Assistance to meet the resource gap in Jammu and Kashmir
- ₹7,900 crore sanctioned as an advance from the Contingency Fund of India
- ₹279 crore as grants towards contribution to the UT Disaster Response Fund
- ₹130 crore as grants towards equity contribution for the 624 MW Kiru Hydro Electric Project
- ₹476.44 crore as equity for the 800 MW Ratle Hydro Electric Project
- ₹500 crore for the Jhelum and Tawi Flood Recovery Project (JTFRP)
- ₹171.23 crore for equity contribution for the 540 MW KWR Hydro Electric Project
- ₹101.77 crore as support for capital expenditure to meet resource-gap funding for infrastructure projects
- ₹9,789.42 crore allocated to J&K Police
“We appreciate the Government’s commitment to Jammu and Kashmir’s development and growth,” said Swaran Singh Charak, Chairman. “This allocation will significantly contribute to the region’s progress and prosperity.”
Sushil Singh Charak, General Secretary, added, “We thank Finance Minister Nirmala Sitharaman for her efforts in presenting a budget that addresses the needs of Jammu and Kashmir.”
