FM announces 50,000 Govt jobs for J&K.
Finance Minister Nirmala Sitharaman presented Rs 1.01 lakh crore worth annual budget for Jammu and Kashmir for the financial year of 2020-21 in the Lok Sabha proposing 50,000 jobs in the Government sector backed by budgetary allocation of Rs 2000 crore for upcoming fiscal year and announced introduction of three religious circuits to reenergize tourist industry in the Union Territory.
The budget statement of Sitharaman tabled in both Houses of the Parliament today stated that out of total budget estimates of Rs 1,01,428 crore for 2020-21, Jammu and Kashmir will have Rs 38,764 crore for development, an increase of 27 percent and expressed hope to achieve GSDP growth of 11 percent, making J&K one of the fastest growing Union Territory. Current financial year’s budget was Rs 88,911 crore.
The Union Finance Minister also presented supplementary Grants for the period of seven months in respect of undivided Jammu and Kashmir State w.e.f. Ist April, 2019 to 30th October, 2019, budgetary estimates for five months of 2019-20 from 31st October, 2019 to 31st March, 2020 for the UT of J&K and budget estimates for five months of 2019-20 w.e.f. 31st October, 2019-31st March 2020 for the UT of Ladakh.
Total budget estimates for the UT of Ladakh for last five months of 2019-20 (from 31st October, 2019 to 31st March, 2020) stood at Rs 5754 crore. Of this, capital expenditure would be Rs 4618.35 crore and revenue expenditure Rs 1135.65 crore.
Giving major boost to employment in the newly created Union Territory of J&K. Sitharaman proposed to fill up 50,000 vacancies in Government sector. For filling up of these posts, she allocated Rs 2000 crore for the year 2020-21.
“Self-employment will receive due attention and priority sector lending in 2020-21 will be increased upwards of Rs 27,000 crore. We intend to cover any unemployed youth who wishes to set up his/her own business under various schemes. As many as 64,899 unemployed youth will be provided skill training. Rs 31.42 crore are being provided as Revolving Fund to bring 2,09,500 women under the fold of an equal number of Self Help Groups. Rs 103.35 crore will be provided as Community Investment Fund for Self Help Groups which have shown due progress. Rs 50 crore are being earmarked for Mission Youth—the Union Territory Government’s major initiative for engagement of youth for their upliftment/employment. Rs 750 crore are being provisioned for skill up-gradation of 5000 craftsmen and for capacity building of craft instructors under Handicrafts sector,” the Finance Minister said.
Sitharaman proposed introduction of three religious circuits in Jammu and Kashmir to give boost to pilgrimage tourism for re-energizing economy.