The Jammu and Kashmir Legislative Assembly is gearing up for a significant event: the presentation of the Union Territory’s annual budget for the fiscal year 2025-26. Scheduled for March 7th, this marks a pivotal moment, signifying a return to legislative oversight of the region’s finances after a seven-year hiatus.
A Return to Legislative Oversight
For the past seven years, the budget for Jammu and Kashmir was presented in the Indian Parliament, a consequence of the region’s transition to direct central rule. This shift in budgetary authority had a profound impact on the region’s fiscal autonomy and the role of the elected representatives in shaping its financial future.
The upcoming budget session, commencing on March 3rd, is poised to restore a crucial element of democratic governance. By returning the budget presentation to the Legislative Assembly, the government acknowledges the importance of local representation and the need for greater transparency and accountability in financial matters.
Key Highlights of the Budget Session
The budget session is scheduled to span 22 sittings, culminating on April 11th. Here’s a brief overview of the key events:
- March 3rd: The session will commence with the Lieutenant Governor’s address to the House.
- March 4th-6th: Discussions on the Lieutenant Governor’s address will take place, culminating in a reply from the Chief Minister.
- March 7th: The much-anticipated presentation of the J&K Budget 2025-26, along with the supplementary statement of expenditure for 2024-25.
- March 8th, 10th, 11th: General discussions on the budget will be held, followed by the Finance Minister’s concluding remarks.
- March 12th-24th: Deliberations on demands for grants will take place.
- March 25th: Approval of the budget with the passage of Appropriation Bills.
- March 25th – April 6th: A 12-day recess will follow the budget approval.
- April 7th: The session will resume with private members’ resolutions.
- April 8th: Consideration of private member bills.
- April 9th: Further discussions on private members’ resolutions.
- April 11th: Conclusion of the session with government business.
A Look Ahead
The presentation of the J&K Budget 2025-26 holds significant implications for the region’s economic development and social welfare. It will shape the government’s priorities for the coming year, outlining allocations for crucial sectors such as infrastructure, education, healthcare, and social security.
The budget will also be closely scrutinized by stakeholders, including civil society organizations, businesses, and the general public. It will be crucial to ensure that the budget reflects the aspirations and needs of the people of Jammu and Kashmir and contributes to the region’s sustainable and inclusive growth.
Table 1: Key Dates and Events of the J&K Budget Session
| Date | Event |
| March 3rd | LG’s Address to the House |
| March 4-6th | Discussions on LG’s Address |
| March 7th | Presentation of J&K Budget 2025-26 |
| March 8-11th | General Budget Discussions |
| March 12-24th | Demands for Grants |
| March 25th | Budget Approval & 12-day Recess |
| April 7th | Private Members’ Resolutions |
| April 8th | Private Member Bills |
| April 9th | Private Members’ Resolutions |
| April 11th | Conclusion of the Session |
This budget session marks a new chapter in the governance of Jammu and Kashmir. It provides an opportunity to strengthen democratic processes, enhance fiscal transparency, and ensure that the region’s resources are utilized effectively to improve the lives of its people.
Disclaimer: This article is for informational purposes only and should not be considered financial or legal advice.
