Muzaffarabad (Web Desk/Agencies): The Azad Jammu & Kashmir (AJK) Government on Tuesday announced its budget of over Rs220 billion for the financial year (FY) 2024-25, including a development outlay of Rs44 billion.
AJK Finance Minister Abdul Majid Khan presented the budget in the session of AJK Legislative Assembly, chaired by Speaker Chaudhary Latif Akbar.
Highlighting the key features of the budget, Minister Abdul Majid Khan said the total estimated income stood at Rs201.17 billion, with significant contributions expected from federal grants and inland revenue.
The development expenditure for the fiscal year 2024-25 was projected at Rs44 billion, he added.
The minister detailed that total receipts were estimated at Rs201.17 billion, with Rs105 billion anticipated from the Federal Government under the Federal Variable Grant, Rs75 billion from inland revenue, Rs15 billion from electricity, and Rs0.45 billion from the Forest Department.
Additional revenue exceeding Rs20 billion would come from various sources, including the AJK Transport Authority, Armed Services Board, Law and Order (Administration of Justice), Police (Interior), Prisons, Communication, Roads, Education, Health, Food, Agriculture, Wildlife/Fisheries, Livestock and Dairy Development, Printing Press, Industries, Silk, Minerals, Tourism, and other sectors, he added.
The minister said the total expenditure for the fiscal year 2024-25 was estimated at Rs220.033 billion.
Sectoral allocations included Rs0.9 billion for Agriculture and Livestock, Rs0.15 billion for Civil Defence & SDMA, Rs0.345 billion for Development Authorities, Rs4.8 billion for Education, Rs0.15 billion for Environment, Rs0.8 billion for Forestry/Watershed, Rs0.075 billion for Fisheries/Wildlife, Rs3 billion for Health, Rs0.52 billion for Industries/Minerals, Rs0.28 billion for AJK TEVTA, Rs2.035 billion for Governance/Miscellaneous, Rs0.03 billion for Transport, Rs0.2 billion for Information & Media Development, and Rs0.8 billion for Information Technology, he added.
The budget, the minister said, also included Rs3.7 billion for Local Government and Rural Development, Rs2.465 billion for Physical Planning & Housing, Rs4.8 billion for Energy and Water Resources, Rs1.4 billion for Research & Development, Rs1.15 billion for Land Administration & Management, Rs0.3 billion for Social Welfare & Women Development, Rs0.5 billion for Sports, Youth & Culture, Rs0.7 billion for Tourism, and Rs14.9 billion for Communication & Works.
“This comprehensive budget aims to stimulate growth and development across various sectors in AJK for the fiscal year 2024-25,” he added.