AJK presents Rs2.64 trillion budget

Azad Jammu and Kashmir (AJK) Government’s Finance Minister Abdul Majid Khan on Tuesday presented an annual budget with a total outlay of Rs2.64 trillion for the next fiscal year FY 2024-2025 during the special session of the Assembly, reported 24NewsHD TV channel. Earlier, the budget document was presented before AJK Cabinet for approval which was presided over by Prime Minister Azad Kashmir Chaudhry Anwar Haq. AJK cabinet unanimously approved the budget estimates for the financial year 2024-2025.

AJK Assembly Speaker Ch Latif Akbar presided over the session. Leader of the House Ch Anwarul Haque also participated in the budget session. While presenting the annual budget, Finance Minister Abdul Majid Khan said the government has estimated the total receipts/income for the financial year 2024-25 at Rs2.17 trillion while the total expenditures were estimated at Rs2.2 trillion. While the total development expenditure for FY 2024-25 was estimated at Rs 44 billion.

Finance Minister said the government was expecting to receive Rs75 billion rupees from the Inland Revenue Department and Rs170 million from Land Record and Settlement. While the government has set aside Rs450 million for Stamp and Rs500 million for AJK Transport Authority.

Abdul Majid Khan said AJK government has allocated 400 million for the Armed Services Board, and Rs1400 million for law and order and general administration. He said AJK govt allocated Rs240 million for the Police department, and Rs480 million for Communication and Road Networks. For Education Rs280 million, for Health 1700 million while Rs400 million were set aside for agriculture sector.

The Finance Minister said Rs800 million were earmarked for Wildlife/Fisheries, Rs400 million for Livestock and Dairy Development and Rs450 million were allocated for Forest Department.

He further said Rs 15 billion were allocated for Electricity, Rs100 million for printing, Rs400 million for industries, Rs5 million for the labour Department and Rs 6 million was set aside for the promotion of silk.

The Finance Minister said AJK govt allocated Rs100 million for Minerals, Rs120 million for tourism, Rs 20 million for Social Welfare, and Rs700 million were allocated for Religious Affairs.

For miscellaneous expenditures of the government, Rs809 million were allocated. While for Federal Variable grants Rs1.5 trillion were allocated. The Finance Minister said the water usage charges were estimated at Rs 1 billion while loans and advances were projected at Rs1 billion.

While the total income of the government was estimated at Rs2.17 trillion rupees. Rs7.86 billion were allocated for Services and General Administration in the AJK budget.

The Finance Minister said Rs1.8 billion was set aside for the Board of Revenue while for Land Record and Settlement Rs 509 million were allocated. For pensions, Rs43.14 billion and for Public Relations Rs 400 million were allocated.

For the judiciary, Rs3.4 billion was set aside, and for the Police Department, Rs9.84 billion was suggested. For Jails Rs365 million, and for Civil Defence Rs465 million while for Armed Services Board Rs1180 million were set aside in the budget.

For the Communications and Public Works Department Rs6. 6 billion while Rs43.68 billion was allocated for the Education sector. Rs14.95 billion was set aside for the Health sector and Rs200 million was allocated for Sports, Youth and Culture.

Rs 280 million were set aside for Religious Affairs, for Social Welfare and Women's Development Rs874 million, for Agriculture Rs1.15 billion, and for Livestock and Diary Development Rs1.65 billion.

The Finance Minister said government servants were the backbone of any government therefore despite its financial difficulties, the government was trying hard to improve the economic conditions of the employees.

He said the AJK government announced a 25 per cent hike in salaries of government employees like the Centre and a 15 per cent jump in the pension of retired employees.

The Finance Minister said for Food Department Rs400 million were allocated and for State Trading Rs41.62 billion were allocated. For Wildlife and Fisheries Department Rs1.89 billion, Cooperative Department Rs200 million and for Hyrdo and Water projects Rs10.81 billion rupees were earmarked.

The Finance Minister said for Local Government and villages Development Rs957 million were allocated while for Labour and Mines Development Rs330 million were set aside.