“We are working towards to do a budget which will take us away from...
Ever since he joined politics in the summer of 2014, economist Dr Haseeb Drabu has remained busy 24x7. After helping his party contest Lok...
Have a Nice Stay Sir!
Despite enjoying freebies worth crores, lawmakers drain the system by turning defaulters when it comes to pay back. Syed Asma takes a look at...
Budget 2014 -15
With the fiscal deficit under control and the overall growth rate better than the national average, J&K is anticipating to spend a record Rs...
No case for taxman
A Supreme Court order has shagged off the taxman from the backs of industrialists and on the way saving them a whooping Rs 900...
MS Moneybag
Every time Prime Minister Manmohan Singh lands in Kashmir, he makes promises to change the socio-economic discourse by pumping resource to manage the deficit....
Budgeting Next Fiscal
J&K’s yearly requirement for funds are increasing with every passing year. But the interesting part is that while the devolution from the central tax poll are...
The Government’s Armies
J&K government is the employer of the last resorts in the state that is suffering from comparatively high unemployment rate and lack of a...
Earning Margins
The thumb rule in J&K is that intervention in the policy framework triggers pressures from vested interests within and outside the government. Sometimes, they...
The budget business
As the state legislature is debating the grants of the individual ministries, Kashmir Life offers basics of the budget 2012-13 and the subsequent high-voltage...
2011-12: The Revised Estimates
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.
Budget Estimates 2012-13
The next year’s total receipts and expenditure are estimated at Rs 33,853 crore each. The total revenue receipts are estimated at Rs 29,948 crore...
Annual Plan 2012-13
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.
Fiscal Initiatives
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.
MANAGING ECONOMY
Public finances comprise major part of Kashmir’s economy, leaving government as the main employer, spender and the policy maker. As Finance Ministry is rushing...
Cleaning Up Registration
After a series of reforms, the stamp duty and the registration process have paved way for better returns to the exchequer. Now the reformed...
