The Azad Jammu & Kashmir (AJK) government has announced an ambitious budget of over Rs220 billion for the financial year 2024-25, featuring a robust development outlay of Rs44 billion. This budget, presented by Finance Minister Abdul Majid Khan during the AJK Legislative Assembly session chaired by Speaker Chaudhary Latif Akbar, marks a significant step towards comprehensive regional development and fiscal sustainability.
Minister Abdul Majid Khan highlighted that the total estimated income for AJK stands at Rs201.17 billion, with substantial contributions expected from federal grants and inland revenue sources. This projection underscores the crucial role of federal support in bolstering AJK’s financial framework. Of the estimated receipts, Rs105 billion is anticipated from the Federal Variable Grant, Rs75 billion from inland revenue, Rs15 billion from electricity, and Rs0.45 billion from the Forest Department.
The projected development expenditure of Rs44 billion reflects the government’s commitment to advancing infrastructure and public services across the region. This allocation is expected to drive progress in various sectors, fostering growth and enhancing the quality of life for AJK residents.
The budget outlines sectoral allocations aimed at addressing diverse developmental needs. Key allocations include Rs0.9 billion for Agriculture and Livestock, Rs0.15 billion for Civil Defence & SDMA, Rs0.345 billion for Development Authorities, Rs4.8 billion for Education, Rs0.15 billion for Environment, and Rs0.8 billion for Forestry/Watershed. Other notable allocations are Rs0.075 billion for Fisheries/Wildlife, Rs3 billion for Health, Rs0.52 billion for Industries/Minerals, Rs0.28 billion for AJK TEVTA, Rs2.035 billion for Governance/Miscellaneous, Rs0.03 billion for Transport, Rs0.2 billion for Information & Media Development, and Rs0.8 billion for Information Technology.
In addition to these allocations, the budget includes Rs3.7 billion for Local Government and Rural Development, Rs2.465 billion for Physical Planning & Housing, Rs4.8 billion for Energy and Water Resources, Rs1.4 billion for Research & Development, Rs1.15 billion for Land Administration & Management, Rs0.3 billion for Social Welfare & Women Development, Rs0.5 billion for Sports, Youth & Culture, Rs0.7 billion for Tourism, and Rs14.9 billion for Communication & Works.
The total expenditure for the fiscal year 2024-25 is estimated at Rs220.033 billion. This comprehensive budget reflects the AJK government’s strategic approach to balancing revenue generation with developmental priorities, aiming to foster sustainable economic growth and enhance public welfare.
Finance Minister Abdul Majid Khan emphasized the government’s focus on leveraging all available resources to fulfill its responsibilities and drive socio-economic development across AJK. With a significant portion of revenue expected from diverse sources, including the AJK Transport Authority, Armed Services Board, and various sectors like education, health, agriculture, and tourism, the budget aims to create a robust financial ecosystem that supports growth and prosperity.
AJK’s Rs220 billion budget for 2024-25 represents a bold and strategic vision for the region’s future, with targeted investments in key sectors designed to spur development and improve the quality of life for its residents.
