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Breaking News:

Highlights of budget

* Aadhar mandatory for Govt jobs
* PDC to have capital base of Rs 3000 crores
* Toll on dressed/frozen chicken up
* Toll on ghee raised at par with edible oil
* Toll on import of dry fruits increased
* Toll rate of fish too goes up
* Token, passenger taxes waived off
* VAT remission to local industry extended
* 14.5% tax on tarpaulin, canvas cloth
* Fresh fruit included in negative list
* 5% tax on ready to stitch garments
* Govt to revise Recruitment Rules
* Advt tariffs for newspapers increased
* Total receipts Rs.76335 crore
* Revenue receipts Rs.58168 crore.
* Own Tax Revenue estimated at Rs. 9931 crore.
* Share of Central Taxes up at Rs. 9711 crore
* Revenue Expenditure (RE) including Security Related Expenditure (SRE) to touch Rs. 48819 crore.
* Capital Expenditure (CAPEX) accounts for Rs. 30653 crore.
* Rs. 3955 crore for State Sector Schemes.
* Rs. 1037 crore allocation for District Sector Capital Expenditure.
* Rs. 10000 crore under Centrally Sponsored Scheme.
* Rs.8500 crore under Prime Ministers Development Programme (TAMEIR)
* Rs. 933 crore to be devolved to PRIs and ULBs under 14th FC grants.
* Outgo on pension including leave encashment and NPS during the year 2017-18 at Rs. 5000 crore
* Provision of Rs. 25 crore for meeting cost of VRS/GHS in PSUs.
* The Gross State Domestic Product (GSDP) at current prices Rs. 151916 crore.
* Tax Revenue + Non-Tax Revenue at Rs. 25050 crore higher by Rs. 1884 crore  over the  revised target of Rs. 23166 crore
* Tax revenue expected to grow by around 17 percent.
* Budget control mechanism of audit and invoice checking.
* Integrated Financial Management System (IFMS) for online bill processing
* Comprehensive insurance scheme for nine crops.
* Insurance of public assets and Government vehicles
* Assets like Artefacts, rare manuscripts, paintings to be insured
* Social security net for welfare of the working class.
* Manpower Audit for viviat all levels to suggest manpower rationalization
* Insurance cover for all serving employees.
* Change of nomenclature of Government employees at lower levels.
* Interest subvention scheme for public transport vehicle owners.
* Comprehension policy to protect conversion of land.
* Setting up of one Zoo each in Kashmir and Jammu.
* Creation of E-Commerce platform to link 20,000 artisans and weavers.
* 50 percent interest subvention for setting up of modern walnut processing units.
* Provision of Rs. 5 crore to establish CFC at Lassipora.
* 50 percent interest subvention in bank loans to new tannery units.
* Rs. 2.00 crores for fur artisans rehabilitation.
* Creation of land compensation fund at the level of DCs.
* “All Terrain Mountain Bike” scheme for boys.
* Football league set up with allocation of Rs. 2.00 crore.
Tax Proposals:
* Extension of tax incentives for 2017-18.
* Incandescent bulbs to be placed in negative list.
* To make major check posts cashless.
* The J&K Passenger Tax Act 1963 shall be administered by the Transport Department.
* Increase advertisement tariffs.

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