Budget 2016-17 Highlights

Budget 2016-17 Highlights

Total receipts Rs61681 crore
General budgetTotal expenditure Rs64669 crore
Earmarked provision of Rs 700 crore for DA to employees and pensioners
The growth rate at constant prices for the financial year 2015-16 expected to be 7.9 %

TaxesEssential commodities exempted from VAT
Tax hiked by 1% on printers, mobile phones, tablets, IPads and their accessories, readymade garments, packed food items, juices
Medical services provided by hospitals and nursing homes exempted from service tax

Budget ReformsBudget Reforms
Overhauling of the Provident Fund Accounting System
Initiative to clear power liabilities of Rs 7,000 crore in the form of power bonds/UDAY  under way

Public Expenditure
Release of pending DA installment of 6 per cent in favor of government employees from 1 Jan 2016
Cash Assistance to Jammu province migrants enhanced and brought at par with Kashmiri migrants with effect from 18 November 2015

Industrial Policy InitiativesIndustrial Policy Initiatives
Investments in industrial estates or elsewhere in the states to be governed by existing administrative practices, regulatory norms and the Constitution of J&K
Industrial estates in the state, to be reorganized to function as a corporate entity within the aegis of SIDCO/SICOP

Fiscal InitiativesFiscal Initiatives
Implementation of the “Free Drug Policy”, in the health centres of the State
Free power up to 30 units’ and waiver of fixed charges in favor of all metered Below Poverty Line (BPL) domestic consumers from Jan 2017

Gender InitiativesGender Initiatives
Fee waiver for all girl students in all government institutions up to the higher secondary level
Rs5 crore for a dedicated city bus service for women in Srinagar and Jammu cities

Power ReformsPower Reforms
Power Amensty Scheme extended up to 31 December 2016
Each registered power consumer to get 5 LED lamps of 9W each at Rs 20 per lamp

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