Sitharaman is likely to table the budget this week in Parliament.
Srinagar, Mar 9: The Union Finance Ministry has finalised Jammu and Kashmir’s annual budget for the fiscal year 2023-24, which is expected to be tabled in Lok Sabha on the first day of the session on March 13, when the Parliament resumes after a one-month hiatus. But, if the Opposition parties cause a ruckus in Parliament, the budget presentation could be postponed by a few days.
“The budget will be presented in any case next week and is likely to be bigger in terms of numbers than past years,” authorities told the Biz Reporter.
According to them, the Union Finance Ministry has given the budget final touches in conjunction with the Finance Department of Jammu and Kashmir, and it is now almost ready for presentation in Parliament.
“If all goes well, the budget will most likely be presented in Parliament on the first day of the session following a one-month break, on March 13,” says the official. “A couple of days’ delay is possible if the Opposition disrupts Parliament as planned on a variety of subjects,” authorities warned.
They further stated that both the Finance Ministry and the Jammu and Kashmir administrations have finished a roughly six-month-long budget preparation exercise. The exercise has been completed, and the budget is ready for presentation, they said, adding that it will be Jammu and Kashmir’s fourth consecutive budget to be presented before Parliament in the absence of a legislature in the Union Territory.
This year’s J&K budget announcement, like prior years, is unlikely to spark substantial discussion. The budget must be approved by March 31, and it will take effect on April 1.