FM Sitharaman to present J&K Budget 2022-23 in Parliament on Monday

BK News 

Srinagar, March 13: Union Finance Minister Nirmala Sitharaman will present the annual J&K Budget 2022-23 in Parliament on Monday.

According to the List of Business of Lok Sabha issued for Monday, March 14, 2022, the Union Finance Minister, Nirmala Sitharaman, will present a statement (Hindi and English versions) of estimated receipts and expenditure of the Union Territory of Jammu and Kashmir for the year 2022-23 in Parliament.

The J&K Budget 2022-23 will be the third annual budget presented by the Nirmala Sitharaman in Lok Sabha post abrogation of Article 370.

This will be the third consecutive annual budget presented by the Nirmala Sitharaman in Lok Sabha post abrogation of Article 370. In absence of the Legislative Assembly in the Union Territory of J&K as the elections for the same were not held post bifurcation of the erstwhile state into two union territories, J&K and Ladakh, the budget needs to be presented and passed in the Parliament.

The budget is expected to be voted and passed on the dame day for which the finance minister will move a special motion.

“Nirmala Sitharaman to move that this House do suspend rule 205 of the Rules of Procedure and Conduct of Business in Lok Sabha, which provides that there shall be no discussion of the Budget on the day it is presented to the House, in its application to the discussion of the Budget for 2022-23 and Supplementary Demands for Grants for 2021-22 of the Government of Union Territory of Jammu and Kashmir, to enable the same-day presentation of and discussion on the Budget,” according to the List of Business document.

A general discussion on the J&K Budget will be held in the Parliament before it is passed.

A discussion and voting will be also held on the Demands for Grants for the Union Territory of Jammu and Kashmir for the financial year 2022-23. Similarly, discussion and voting will be held on Supplementary Demands for Grants

for the Union Territory of Jammu and Kashmir for the financial year 2021-22.

The J&K annual budget for Jammu and Kashmir in 2021-22 was Rs 1.08 lakh crore, whereas the same for 2020-21 was Rs 1.02 lakh crore.

The budget for  2019-20 was about Rs 88,991 crore.

The last budget of J&K which was presented in the erstwhile state Legislative Assembly was in January 2018 for the financial year of 2018-19. The same year Assembly was dissolved as the BJP withdrew support to Mehbooba Mufti-led PDP-BJP government.

The budget for 2019-20 was approved by the Governor as head of the then State Administrative Council (SAC).