SRINAGAR: Chief Minister Omar Abdullah is likely to participate in a pre-budget meeting to be chaired by Union Finance Minister Nirmala Sitharaman in Rajasthan on December 20.
Quoting sources, KNO reported that Omar, who is also the minister-in-charge of the Finance Department, will attend the meeting called by the Union Finance Ministry to hold consultations with states and Union Territories regarding the 2025-26 Union Budget.
The meeting is scheduled to be held in Jaisalmer, Rajasthan, on December 20 at 4:00 PM.
The Union Budget is of particular significance for Jammu and Kashmir, as the region heavily depends on resources from the Union Government.
In the Union Budget for 2024-25, the Centre allocated Rs 42,277.74 crore to Jammu and Kashmir, marking a 1.2 percent increase from the Rs 41,751.44 crore allocated in the previous fiscal year.
In addition to the total budget of Rs 42,277.74 crore, the Centre also allocated Rs 9,789.42 crore to the J&K Police.
During a meeting with the Union Finance Minister last month, Omar Abdullah sought additional central assistance of Rs 6,000 crore to bridge the resource gap for the financial year 2024-25.
“He also informed the Finance Minister about the difficult fiscal situation faced by Jammu and Kashmir and requested the Ministry to provide additional central assistance of Rs 6,000 crore to bridge the resource gap for FY 2024-25,” an official spokesman of the JK government said after the meeting.
Omar had also requested the Finance Minister to consider Jammu and Kashmir for funding through the “Special Assistance to States for Capital Investment” scheme, under which a 50-year interest-free loan would be provided to states for capital expenditure.
