Daily Times

The Azad Jammu & Kashmir (AJK) government on Tuesday presented a budget of over Rs 220 billion for the financial year 2024-25, with a development outlay of Rs 44 billion. The budget at was presented by AJK Finance Minister Abdul Majid Khan in the session of AJK Legislative Assembly, chaired by Speaker Chaudhary Latif Akbar. While highlighting the key features of the budget, Minister Abdul Majid Khan said the total estimated income stood at Rs 201.17 billion, with significant contributions expected from federal grants and Inland Revenue. The development expenditure for the fiscal year 2024-25 was projected at Rs 44 billion, he added. The finance minister detailed that total receipts were estimated at Rs 201.17 billion, with Rs. 105 billion anticipated from the Federal Government under the Federal Variable Grant, Rs 75 billion from inland revenue, Rs 15 billion from electricity, and Rs 0.45 billion from the Forest Department. Additional revenue exceeding Rs 20 billion would come from various sources, including the AJK Transport Authority, Armed Services Board, Law and Order (Administration of Justice), Police (Interior), Prisons, Communication, Roads, Education, Health, Food, Agriculture, Wildlife/Fisheries, Livestock and Dairy Development, Printing Press, Industries, Silk, Minerals, Tourism, and other sectors, he added.