J&K’s yearly requirement for funds are increasing with every passing year. But the interesting part is that while the devolution from the…
J&K government is the employer of the last resorts in the state that is suffering from comparatively high unemployment rate…
The thumb rule in J&K is that intervention in the policy framework triggers pressures from vested interests within and outside…
As the state legislature is debating the grants of the individual ministries, Kashmir Life offers basics of the budget 2012-13…
The total budgetary receipts are placed at Rs 31,022 crore in the Revised Estimates in comparison to the Budget Estimates of Rs 31,212 crore. The total receipts consist of Rs 25,513 crore as revenue receipts and Rs 5,509 crore as capital receipts.
The next year’s total receipts and expenditure are estimated at Rs 33,853 crore each. The total revenue receipts are estimated…
The Planning Commission of India has yet to formally determine the size of the Twelfth Five Year Plan, which, when finalized, will also give us a firm idea about the likely size of our successive annual plans for the coming five years.
VAT on food grains
I had apprised the Hon’ble Members last year that several states are charging VAT at rates, ranging from 4% to 5%, on atta, maida, suji, besan, paddy and rice etc. In consideration of last year’s rising food inflation as an All India phenomenon, I had deferred my proposal to bring these items under the VAT net and announced the continuation of exemption from the levy of VAT on these commodities upto 31st March, 2012.
Public finances comprise major part of Kashmir’s economy, leaving government as the main employer, spender and the policy maker. As…
After a series of reforms, the stamp duty and the registration process have paved way for better returns to the…