Center restructures Jammu and Kashmir debt, gives ₹10,000cr boost
The Center just gave Jammu and Kashmir's finances a major boost: Finance Minister Nirmala Sitharaman announced that Jammu and Kashmir's debt has been restructured, plus the region has received an extra ₹5,000 crore in each of 2024-25 and 2025-26.
The goal? To help steady Jammu and Kashmir's economy before elected leaders take charge.
Nirmala Sitharaman details J&K funding
Sitharaman said, "Want to assure that every attention will be given, want J&K to prosper with other states," highlighting the Center's focus on development.
Since 2025-26, Jammu and Kashmir has received ₹5,166.50 crore for capital investment projects and could get a further ₹4,886 crore if it hits certain reform targets.
There's also support for hydel power projects, and, to keep things running smoothly during this transition period, the Center is covering police salaries and pensions with a yearly ₹13,000 crore allocation.