by Faiqa Masoodi
JAMMU: Jammu and Kashmir’s budget for the financial year 2025-26, presented by Omar Abdullah, has revealed that the region carries over Rs 6,200 crore in outstanding liabilities under miscellaneous expenditures, separate from its public debt. These liabilities, which include major works and contracts, land acquisition charges, and unpaid bills, highlight the fiscal obligations that remain outside direct borrowings.
According to the budget documents, the largest component of these liabilities is related to major works and contracts, amounting to Rs 3,669.90 crore. This includes financial commitments for ongoing and completed infrastructure projects across Jammu and Kashmir. The second major liability is Rs 1,053.28 crore under committed land acquisition charges, reflecting pending payments for land acquired for development projects. Additionally, unpaid bills for works and supplies stand at Rs 1,541.57 crore, indicating delayed payments to contractors and suppliers involved in government projects.
These figures add to Jammu and Kashmir’s overall financial obligations, raising concerns over expenditure management and fiscal planning. While the region’s direct public debt has been increasing, these off-budget liabilities further underscore the challenges in balancing infrastructural development with financial prudence. The budget presentation did not specify a timeline for settling these liabilities, but their inclusion in the financial disclosures signals the need for structured planning to address these outstanding payments.
The revelation of over Rs 6,200 crore in off-budget liabilities comes as Jammu and Kashmir grapples with rising borrowings and a growing fiscal burden. With infrastructure and developmental projects continuing across the region, ensuring timely payments and financial discipline will be critical in managing these commitments effectively.
