Jammu & Kashmir State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Jammu & Kashmir FY 2022-23
Jammu & Kashmir State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 64,200 crore
+11.7%
Total Expenditure
Rs 90,000 crore
+29.9%
Fiscal Deficit
4.1%
Rs 9,500 crore
Capital Expenditure
Rs 15,000 crore
+20.0%
Tax Revenue
Rs 11,800 crore
+15.7%
Interest Payments
Rs 9,200 crore
10% of expenditure
Jammu & Kashmir Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Jammu & Kashmir Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP â Jammu & Kashmir 2022-23
The fiscal deficit for Jammu & Kashmir in 2022-23 is 4.1% of GSDP (Rs 9,500 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Jammu & Kashmir's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 9,200 crore consume 10.2% of total expenditure.
Jammu & Kashmir State Budget 2022-23 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 87,500 crore | 100% |
| 1. Revenue Receipts | Rs 64,200 crore | 73.4% |
| a. Own Tax Revenue | Rs 11,800 crore | 13.5% |
| b. Non-Tax Revenue | Rs 5,200 crore | 5.9% |
| B. Total Expenditure | Rs 90,000 crore | 100% |
| 1. Revenue Expenditure | Rs 61,500 crore | 68.3% |
| 2. Capital Expenditure | Rs 15,000 crore | 16.7% |
| of which: Interest Payments | Rs 9,200 crore | 10.2% |
| C. Fiscal Deficit | Rs 9,500 crore | 4.1% of GSDP |
Source: Jammu & Kashmir State Budget Documents via PRS India. All figures in Indian Rupees.
Jammu & Kashmir Budget 2022-23 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 90,000 crore as Central development investment reaches unprecedented scale
- Revenue receipts at Rs 64,200 crore with own tax revenue at Rs 11,800 crore â strong growth
- Revenue deficit of Rs 2,700 crore as spending expansion outpaces revenue recovery
- Fiscal deficit at 4.1% of GSDP (Rs 9,500 crore), elevated by the massive capital programme
- Capital expenditure surges to Rs 15,000 crore â record level with highways, tunnels, and tourism infrastructure
- Market borrowings at Rs 9,500 crore fund the historically large investment programme
- Total outstanding debt at Rs 1,08,000 crore with debt-to-GSDP at 47.0%
- Interest payments at Rs 9,200 crore remain the most severe fiscal burden
- Tourism achieves record arrivals with over 2 crore visitors to J&K
- GSDP at Rs 2,30,000 crore with strong growth driven by Central infrastructure spending
- Apple production reaches record levels with improved marketing infrastructure
- Dal Lake conservation programme receives enhanced Central funding
Compare Jammu & Kashmir Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 69,300 crore | Rs 90,000 crore |
| Revenue Receipts | â | â | â | Rs 57,500 crore | Rs 64,200 crore |
| Capital Expenditure | â | â | â | Rs 12,500 crore | Rs 15,000 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 3.8% | 4.1% |
| Own Tax Revenue | â | â | â | Rs 10,200 crore | Rs 11,800 crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Jammu & Kashmir State Budget 2022-23
The Jammu & Kashmir state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Jammu & Kashmir Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
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Compare Jammu & Kashmir with other states
Side-by-side comparison of fiscal metrics across Indian states