J&K Assembly Passes Major Financial Grants for Growth

The Jammu and Kashmir Legislative Assembly on Wednesday passed grants totaling Rs 74,690 crore for 13 key departments, following a thorough two-day discussion. This includes significant allocations for Finance, Power, and Housing, with the Assembly also approving an additional 19 supplementary grants of Rs 3,523 crore.

Chief Minister Omar Abdullah expressed appreciation for the legislators' involvement and the administrative efforts in handling over 500 cut motions. Abdullah emphasized the government's focus on overcoming financial constraints, with current revenue covering only 25% of expenditures and efforts to improve this imbalance through various new schemes.

Among other initiatives, Abdullah pointed to climate response, expansion of tourism, and tackling legacy waste as critical areas of focus. He announced vertical housing projects in Jammu and Srinagar and highlighted potential economic benefits from retaining a fraction of annual tourism. Addressing land encroachments and revenue reforms were also outlined as immediate priorities.