Jammu & Kashmir State Budget 2024-25 Analysis
Budget EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Jammu & Kashmir FY 2024-25
Jammu & Kashmir State Budget 2024-25 Budget at a Glance
Total Receipts
Rs 74,401 crore
+9.1%
Total Expenditure
Rs 92,191 crore
+8.8%
Fiscal Deficit
4.1%
Rs 10,705 crore
Capital Expenditure
Rs 14,943 crore
+10.7%
Tax Revenue
Rs 14,249 crore
+14.0%
Interest Payments
Rs 10,875 crore
12% of expenditure
Jammu & Kashmir Revenue Receipts 2024-25
Own tax revenue vs non-tax revenue breakdown
Jammu & Kashmir Expenditure Breakdown 2024-25
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Jammu & Kashmir 2024-25
The fiscal deficit for Jammu & Kashmir in 2024-25 is 4.1% of GSDP (Rs 10,705 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 10,875 crore consume 11.8% of total expenditure.
Jammu & Kashmir State Budget 2024-25 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 92,191 crore | 100% |
| 1. Revenue Receipts | Rs 74,401 crore | 80.7% |
| a. Own Tax Revenue | Rs 14,249 crore | 15.5% |
| b. Non-Tax Revenue | Rs 6,872 crore | 7.5% |
| B. Total Expenditure | Rs 92,191 crore | 100% |
| 1. Revenue Expenditure | Rs 70,472 crore | 76.4% |
| 2. Capital Expenditure | Rs 14,943 crore | 16.2% |
| of which: Interest Payments | Rs 10,875 crore | 11.8% |
| C. Fiscal Deficit | Rs 10,705 crore | 4.1% of GSDP |
Source: Jammu & Kashmir State Budget Documents via PRS India. All figures in Indian Rupees.
Jammu & Kashmir Department-wise Expenditure 2024-25
Top departments by allocation in Jammu & Kashmir for 2024-25
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 11,200 crore | Rs 1,000 crore | Rs 12,200 crore | 13.2% |
2. Police & Home Affairs | Rs 7,800 crore | Rs 800 crore | Rs 8,600 crore | 9.3% |
3. Rural Development & Panchayati Raj | Rs 5,200 crore | Rs 1,800 crore | Rs 7,000 crore | 7.6% |
4. Public Works & Roads | Rs 2,800 crore | Rs 4,200 crore | Rs 7,000 crore | 7.6% |
5. Energy & Power | Rs 4,200 crore | Rs 2,000 crore | Rs 6,200 crore | 6.7% |
6. Health & Family Welfare | Rs 4,500 crore | Rs 1,200 crore | Rs 5,700 crore | 6.2% |
7. Agriculture & Allied | Rs 3,000 crore | Rs 900 crore | Rs 3,900 crore | 4.2% |
8. Water Supply & Jal Jeevan | Rs 1,200 crore | Rs 2,500 crore | Rs 3,700 crore | 4.0% |
9. Urban Development & Housing | Rs 2,400 crore | Rs 1,200 crore | Rs 3,600 crore | 3.9% |
10. Social Welfare | Rs 3,100 crore | Rs 400 crore | Rs 3,500 crore | 3.8% |
Jammu & Kashmir Budget 2024-25 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 92,191 crore including debt repayment of Rs 6,761 crore
- Revenue receipts of Rs 74,401 crore with own tax at Rs 14,249 crore
- Revenue surplus of Rs 3,929 crore (1.5% of GSDP) from central grant flow
- Fiscal deficit at 4.1% of GSDP (Rs 10,705 crore), above FRBM target
- Capital expenditure at Rs 14,943 crore for infrastructure development
- Post-Article 370 institutional reforms โ new laws and administrative restructuring
- Tourism recovery with record footfall boosting hospitality and transport sectors
- Committed expenditure (salary+pension+interest) at 50% of total spending
- Outstanding debt at Rs 1,25,900 crore, debt-to-GSDP at 48.0%
- Interest payments at Rs 10,875 crore โ 14.6% of revenue receipts
- Central grants of Rs 53,280 crore as the primary funding source
- GSDP at Rs 2,62,358 crore with services and agriculture dominating
Compare Jammu & Kashmir Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 84,700 crore | Rs 92,191 crore |
| Revenue Receipts | โ | โ | โ | Rs 68,200 crore | Rs 74,401 crore |
| Capital Expenditure | โ | โ | โ | Rs 13,500 crore | Rs 14,943 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 4.2% | 4.1% |
| Own Tax Revenue | โ | โ | โ | Rs 12,500 crore | Rs 14,249 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Jammu & Kashmir State Budget 2024-25
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