Transformational Budget
The Transformational Budget given by the central government for the year 2022-23 will provide the required funds for all the dream projects on the ground level in Jammu and Kashmir.
The new budget is a key for providing rural people of J&K better prospects of economic development. Jammu and Kashmir is poised to become the latest success story among other States/ Union Territories and a model of socio-economic development for the Country.
To achieve this objective, the government has granted a significant allocation in the Budget 2022-23 for the rural sector for the development of these areas and uplifting their status.
Out of the total population of Jammu and Kashmir, more than 70% live in rural areas. Development of rural areas is key to overall development of J&K. The Rural sector needs infrastructure to support and ensure significant investments and developmental aids.
For the Rural Sector, an allocation of about Rs.4,627.85 crore has been made under Capital Expenditure for the year 2022-23 which is Rs.327.40 crore more than the previous year’s budget allocation. In the recently announced budget for J&K, under MGNREGA, 426 lakh person days are targeted to be generated during 2022-23. Also, 60,000 job cards are proposed to be issued based on demand and 1 lakh developmental works of different nature will be initiated and expected to be completed.
