Lok Sabha passes budget for J&K

Srinagar, Feb 7: The Lok Sabha has given its nod to the budget amounting to Rs 1.18 lakh crore for Jammu and Kashmir. This approval came as the House passed the Finance Bill, 2024, during its session on Wednesday.

The passage of this bill marks the completion of the interim budget exercise for the fiscal year 2024-25.

The Lok Sabha approved the Rs 47.66-lakh crore interim budget 2024-25 of the union government and the second batch of supplementary demands for grants.

The house also approved the Appropriation Bill authorising the government to meet expenses for four months in the next financial year.

Notably, the Finance Bill, 2024, maintains the existing tax structure, with the anticipation of a more comprehensive budget presentation scheduled for July.

This forthcoming budget will be presented once the new government assumes office following the general elections slated for April-May.