Srinagar, Oct 11: Jammu and Kashmir and, Ladakh will have separate budgets for five months after they will be officially declared Union Territories on November 1.
A source in the Finance Department said that government has directed the planners to frame a “development-oriented” budget for five months from November 1 to March 2020.
“We had to reframe the budget which was approved in April for the fiscal 2019-2020. We have received proposals from all departments and the budget is expected to be finalized by October 25 for the next five months,” the source said.
An official document accessed by The Kashmir Monitor reveals that budget for the current financial year has been segregated in two parts –– seven months from April to October as state of J&K and five months from November to March 2020 as UTs.
Sources said the government wants a “people friendly” budget since it will be the first finance bill post abrogation of Article 370 and bifurcation of the state into two union territories.
Government has also announced a schedule for discussion on budget proposals from October 14 to 18 for remaining part of the financial year and 2020-21. This time the government has started the process two months early in a bid to give ample time to the planners for preparing budget for next fiscal.
Sources said earlier Finance Department would get less time to finalise the budget as the administrative departments were usually submitting their proposals in November. “The proposals for next fiscals have been received and the discussions will start from October 14,” source said.
Source said departments have also provided year wise list of number of daily wagers and casual workers from 2015 to 2018 for the discussions.
The departments have also provided details about the contractors pending liabilities for carrying out major developmental works.
The heads of departments have also furnished the details about the number of regularized daily wagers who have been adjusted against available vacancies.