{"id":20961,"date":"2020-03-16T23:10:09","date_gmt":"2020-03-16T17:40:09","guid":{"rendered":"https:\/\/kashmir.today\/?p=20961"},"modified":"2020-03-16T23:10:09","modified_gmt":"2020-03-16T17:40:09","slug":"jk-budget-for-2020-21-union-finance-minister-to-unveil-first-financial-statement-of-ut-tomorrow-in-parliament","status":"publish","type":"post","link":"https:\/\/kashmir.watch\/?p=20961","title":{"rendered":"J&#038;K budget for 2020-21 : Union Finance Minister to unveil first financial statement of UT tomorrow in Parliament"},"content":{"rendered":"<p><strong>Srinagar, Mar 16:<\/strong> The first budget of Union Territory of Jammu &amp; Kashmir is set to be unveiled in the Parliament on Tuesday.<\/p>\n<p>According to wire service\u2014Kashmir News Observer(KNO), Union Finance Minister Nirmala Sitharaman will present J&amp;K UT\u2019s maiden budget in the Parliament tomorrow at 12:00 noon, after question hour concludes.<\/p>\n<p>\u201cThe budget will be approved by the Parliament before March 31 for the next financial year of 2020-21,\u201d they said, adding that Parliament will also give its nod to five months\u2019 budget of ongoing fiscal of 2019 -20 which was necessitated by bifurcation of the erstwhile state.<\/p>\n<p>As per KNO, annual budget of Jammu and Kashmir was set to cross the figure of Rs one lakh crore and could be around Rs 1.2 lakh crore.<\/p>\n<p>After bifurcation of the State, President of India Ram Nath Kovind gave authorization for utilization of funds in the UT , pending approval of the Parliament.<\/p>\n<p>On December 15 2018, the State Administrative Council(SAC) headed by Governor Satya Pal Malik had approved Rs 88,911 crore budget for 2019-20.<\/p>\n<p>The Parliament\u2019s approval for budget is required because Jammu &amp; Kashmir Union Territory is presently without an elected Legislative Assembly.<\/p>\n<p>The J&amp;K UT legislature will have powers to pass budget when there will be elected regime like Union Territories of Delhi and Puducherry.<\/p>\n<p>Post Parliament\u2019s nod to re-organisation of Jammu and Kashmir on August 5, the State authorities had started preparations for separate budgets for both the UTs.<\/p>\n<p>They held threadbare discussions with officials of Union Home and Finance Ministries to finalize the budget\u2014(KNO)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Srinagar, Mar 16: The first budget of Union Territory of Jammu &amp; Kashmir is set to be unveiled in the Parliament on Tuesday. According to wire service\u2014Kashmir News Observer(KNO), Union Finance Minister Nirmala Sitharaman will present J&amp;K UT\u2019s maiden budget in the Parliament tomorrow at 12:00 noon, after question hour concludes. \u201cThe budget will be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-20961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-union-territory"],"_links":{"self":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/20961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20961"}],"version-history":[{"count":0,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/wp\/v2\/posts\/20961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=\/"}],"wp:attachment":[{"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kashmir.watch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}