Jammu and Kashmir will be getting Rs 15658.99 crore from the Central Government as net proceeds of Union Taxes and Duties for the Financial Year 2019-20, according to the budget presented today in the Lok Sabha by Goyal.
Data presented along with the budget revealed that Jammu and Kashmir will get Rs 5071.18 crore as Corporation Tax, Rs 4260.76 crore as Income Tax, 14 crore as Wealth Tax, Rs 4739.19 crore as Central GST, Rs 983.94 crore as Customs and Rs 604.06 crore as Union Excise Duty.
Here is a quick breakdown of funds allocated for J&K:
- Rs 825 crore for Border Area Development Programme (BADP).
- Rs 809 crore for relief and rehabilitation of migrants and repatriates in Jammu and Kashmir.
- Rs 2000 crore for development and management of border infrastructure.
- Rs 2000 crore for border infrastructure and management.
- Piyush Goyal has also kept a provision of Rs 50 crore for Special Industry Initiative in Jammu and Kashmir.
[With inputs from online reports]