STOCK MARKET BSE NSE

Rajya Sabha okays J&K appropriation Bill, approves budget of Rs 1 lakh crore

The total budget estimates for the fiscal is Rs 1,01,428 crore, of which developmental expenditure is of the order of Rs 38,764 crore, an increase of 27 per cent.

Published: 24th March 2020 01:29 AM  |   Last Updated: 24th March 2020 12:47 PM   |  A+A-

Rajya Sabha

A view of the Rajya Sabha during the Winter Session of Parliament in New Delhi. (File | PTI)

Express News Service

The Rajya Sabha on Monday approved the Jammu and Kashmir appropriation bill, clearing the budget of Rs 1-lakh crore for the Union Territory of Jammu and Kashmir for 2020-21.

After approval, the Bill was returned to Lok Sabha. The Upper House  also approved and returned to Lok Sabha another Bill for the budget of Ladakh, as required under rules for money bills.The Bills were approved with voice vote after a debate of over two hours. The Jammu and Kashmir Appropriation Bills were passed by Lok Sabha on March 19.

The over Rs 1-lakh crore Budget for Jammu and Kashmir for 2020-21 is meant for development of newly carved-out Union Territory of Jammu and Kashmir, which was made a Union Territory with effect from October 31, 2019.

The total budget estimates for the fiscal is Rs 1,01,428 crore, of which developmental expenditure is of the order of Rs 38,764 crore, an increase of 27 per cent.

The government also presented a separate expenditure plan of `55,317.81 crore for the last five months of the current fiscal.For the Union territory of Ladakh, also carved out of the erstwhile state of Jammu and Kashmir, the total Budget Estimates for the past 5 months have been pegged at Rs 5,754 crore. Of this, capital expenditure would be Rs 4,618.35 crore and revenue expenditure would be Rs 1,135.65 crore.

During the discussion on the bills, leader of Opoosition Ghulam Nabi Azad urged the government to release all detained political leaders in Jammu and Kashmir, adding that he hopes that statehood would be restored to J&K.

Ruling party leader Rakesh Sinha said J&K has been witnessing an economic revolution after scrapping of provisions of Article 370 in J&K by the Centre.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp