Jammu: Chief Minister Omar Abdullah on Friday presented key financial figures of Jammu and Kashmir, highlighting economic expansion and revenue challenges during the budget session in the Assembly.
CM Omar as per news agency JKNS said, J&K’s economy has expanded from ₹1,64,103 crore in 2019-20 to ₹2,45,022 crore in 2023-24, reflecting significant growth over the years.
However, he noted that own tax and non-tax revenues account for only 30% of total revenue receipts and just 25% of budgetary needs, indicating a high reliance on central assistance.
Providing further insights, the Chief Minister stated that non-tax revenue has risen to ₹5,824 crore as of January 31, 2025, while tax revenue has reached ₹11,650 crore—both figures set to surpass last year’s collections.
The budget session continues to witness crucial discussions on the financial and developmental roadmap of Jammu and Kashmir. (JKNS)
