Fiscal deficit to jobs: Economic issues new J&K govt has to tackle

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Fiscal deficit to jobs: Economic issues new J&K govt has to tackle - Business Standard

Quick Summary:

With a capital expenditure of Rs 36,904 crore and revenue expenditure of Rs 81,486 crore allocated in the J-K Budget for 2024-25 (FY25), any new government of the union territory (UT) shall have to focus on development.

Alongside Jammu and Kashmir, Bihar and the Northeastern states are estimated to raise around than 60 per cent of their revenue from devolution and grants from the Centre.

J&K's gross domestic product (GDP) is projected to be at Rs 2,63,399 crore in FY25, growing 7.5 per cent over FY24.