Chief Minister Omar Abdullah met Union Finance Minister Nirmala Sitharaman in New Delhi for pre-budget consultations
Chief Minister Omar Abdullah met Union Finance Minister Nirmala Sitharaman in New Delhi for pre-budget consultations. This was their second meeting in two months, ahead of the Union Budget scheduled to be presented on February. During the meeting, Omar Abdullah sought enhanced financial support and liberal funding for Jammu and Kashmir.
Omar Abdullah sought several key financial supports from Nirmala Sitharaman:
1 Central Assistance for Liabilities
Requested additional financial support to address liabilities of Rs 10,000-12,000 crore accumulated in 2023-24
2 Budget Support
Requested additional central assistance of Rs 6,000 crore to bridge the resource gap in the Union Territory’s budget for FY 2024-25
3 Multilateral Funding Sought
Support for securing multi-lateral funding to develop new tourism destinations
4 EAP Incentives
Requested the Finance Ministry to treat Jammu and Kashmir on par with North Eastern states for Externally Aided Project (EAP) incentives
5 Capital Investment
Urged consideration for the “Special Assistance to States for Capital Investment” scheme, which provides a 50-year interest-free loan for capital expenditure
6 Agriculture Sector Support
Thanked the ministry for approving the Competitiveness Improvement of Agriculture & Allied Sectors Project with USD 100 million funding from IFAD
