JAMMU: Jammu and Kashmir Finance Minister Abdul Rahim Rather Monday presented a zero deficit budget in the state legislative assembly with record revenue recovery during current fiscal and concessions in agriculture, health, information technology, power and tourism.
In his 80-minute-long speech, the state finance minister said that in next year's budgetary proposals, the main emphasis would be to boost the momentum generated so far in the process of socio-economic and welfare schemes.
He added, "The ultimate aim is to bring the major indices of development of our state at par with all India averages."
Rather noted that the state had maintained its journey on the path of structural reforms and sound management of finances through the last three years. "These are yielding results now. We are determined to continue our march towards a better future with renewed vigour."
According the finance minister, "At current prices, our per capita income figures were Rs.30,212 for the year 2008-09, Rs.33,665 for the year 2009-10, Rs.37,496 for the year 2010-11 and are estimated at Rs.41,833 for the current financial year.
He noted that the state continues to lag far behind the All India Per Capita Income figure of Rs.38,005 for the current financial year. "It is evident that a lot more must be done by us in the shortest possible time to catch up with the All India figures."
Rather's budget gave concessions to industry, tourism, agriculture, social sector, health, power and information technology. There were sops for Kashmiri migrants for their relief and rehabilitation.
Estimates of receipts mentioned in the budget for 2012-13 are Rs.33,853 crores and the same amount as expenditure.
The opposition parties by and large expressed "dissatisfaction" over the budgetry proposals. Ashok Khajuria of Bharatiya Janata Party remarked: "It is old wine in a new bottle." Balwant Singh Makotia of National Panthers Party said, "It is jugglery of words and figures aimed at deceiving general public."