Finance Minister Nirmala Sitharaman Presents Historic Budget for 2024-25

Union Finance Minister Nirmala Sitharaman will unveil the budget for Jammu and Kashmir for 2024-25. This comes after presenting India's General Budget, marking her seventh consecutive budget presentation. Key areas of focus include income tax reforms and ease of doing business.

Union Finance Minister Nirmala Sitharaman will present the financial blueprint for Jammu and Kashmir for the fiscal year 2024-25 after delivering the General Budget for the nation. This is the fifth budget for the Union Territory following the abrogation of Article 370.

Earlier in February, Sitharaman proposed an interim Budget of Rs 1.18 lakh crore for Jammu and Kashmir, featuring a fiscal deficit of Rs 20,760 crore. The budget aims at a Capital Expenditure Contribution towards Gross State Domestic Product (GSDP) at 14.64 percent and anticipated GSDP growth at 7.5 percent. The aim is to accelerate economic development and address the aspirations of the region's population.

Today, in Parliament, Sitharaman will unveil the Union Budget 2024, her seventh consecutive effort, surpassing the record held by the late Moraji Desai. Key highlights are expected to include reforms in the income tax structure and initiatives to boost the ease of doing business. The budget presentation for Jammu and Kashmir will follow after the Union Budget is laid out in the Lok Sabha and Rajya Sabha.

(With inputs from agencies.)