Budget 2018-19 Highlights

  • Reforms have now set the stage for meaningful public policy interventions.
  • Green shoots of fiscal order have been seen because of the systematic changes made so far.
  • Fiscal deficit previously estimated at around 9.5 per cent has actually turned out to be around 5.7 per cent.
  • The minimum wages of unskilled workers were raised from Rs. 150 to Rs. 225, while those of skilled labour to Rs. 350 from Rs. 225. A new category of highly skilled worker was introduced and Rs. 400 was fixed as the minimum wage.
  • The lives of construction workers have been insured, protected them against disability, disease and death, provided for their children’s education and given them access to small credit. I am sure this will make life simpler and more secure for 3 lakh families; i.e. 15 lakh people.
  • Good finance is not an end in itself; it is a means to a social and humanitarian end. This is especially so in J&K which has gone through unimaginable troubled times.
  • The strict discipline of no re-appropriation after December 31st 2017 has resulted in more than 50 percent of the outlays being spent by December 31st,
  • With the budgetary edifice in place, now is the time to consolidate the fiscal and budgetary reforms at the departmental level sustained and self-generating efficiency gains.
  • With the complete revamp of the corporate governance structure of the J&KSPDC, along with a refurbished balance sheet, a large equity base and a slew of projects in pipeline, J&KSPDC will be all