SRINAGAR: Chief Minister Omar Abdullah is expected to join a pre-budget meeting led by Union Finance Minister Nirmala Sitharaman in Rajasthan on December 20.
According to sources, Omar, who also oversees the Finance Department, will attend this meeting organized by the Union Finance Ministry. The purpose is to discuss the 2025-26 Union Budget with states and Union Territories.
The meeting will take place in Jaisalmer, Rajasthan, on December 20 at 4:00 PM.
The Union Budget is very important for Jammu and Kashmir because the region relies heavily on funds from the Union Government.
In the Union Budget for 2024-25, the Centre allocated Rs 42,277.74 crore to Jammu and Kashmir, which is a 1.2 percent increase from the previous year’s allocation of Rs 41,751.44 crore.
Besides this total budget, the Centre also set aside Rs 9,789.42 crore for the J&K Police.
Last month, during a meeting with the Union Finance Minister, Omar Abdullah asked for an additional Rs 6,000 crore in central assistance to cover the financial gap for the year 2024-25.
An official spokesperson stated that Omar informed the Finance Minister about the challenging financial situation in Jammu and Kashmir and requested extra help of Rs 6,000 crore to fill the resource gap for FY 2024-25.
Omar also asked the Finance Minister to consider Jammu and Kashmir for funding through the “Special Assistance to States for Capital Investment” scheme. This scheme offers a 50-year interest-free loan to states for capital expenses.
