Jammu and Kashmir Governor administration Saturday approved Rs 88,911 crore state budget for the fiscal 2019-20, which is expected to give a massive push to public infrastructure in the state.
The budget was approved by the State Administrative Council (SAC) headed by Governor Satya Pal Malik at a specially convened meeting here this evening, state chief secretary B V R Subrahmanyam said.
Principal secretary finance Navin K Choudhary gave a detailed presentation to the SAC on the revised estimates for 2018-19, budget estimates for 2019-20 and other key features of the budget.
The SAC was informed that the focus of the budget 2019-20 is to give a big push to tangible developmental initiatives with Rs 30,469 crore earmarked for building public and social infrastructure in addition to Rs 3,631 crore already provided under languishing projects programme.
The SAC observed that investment in infrastructure is the growth driver for economy and has a cascading impact on all sectors including employment generation and socio-economic development.
“The budget 2019-20 is structured around three fundamental objectives of building infrastructure, building institutions and building systems under the government’s overarching mission for delivering development and mission on good governance.
