Among persons who are 15 to 17 years of age in the state who are seeking employment, the unemployment rate is a staggering 57.7%
GN Bureau | January 18, 2017
The unemployment rate for persons between 18-29 years of age in the state is 24.6%, which is higher than the national unemployment rate of 13.2% in the same age group, showed an analysis of the Jammu and Kashmir budget 2017-18.
Among persons who are 15 to 17 years of age in the state who are seeking employment, the unemployment rate is 57.7%. The corresponding unemployment for the country is 19.8%, said the analysis carried out by PRS legislative research.
On January 11, J&K finance minister Haseeb A. Drabu presented the budget for Jammu and Kashmir for financial year 2017-18.
On budgetary reforms, an Online computerized system known as Budget Estimation, Allocation and Monitoring System, will be used to distribute the budget and authorize expenditure. The existing treasury system to disburse expenditure will be replaced by a departmentally aligned Pay and Accounts Office (PAO) System.
An insurance scheme for nine crops including paddy, wheat, maize, apple, mango, saffron, pulses, and oil seeds will be launched against damages from natural disasters including floods, drought etc.
Jammu and Kashmir State Power Development Corporation is proposed to become a debt - free company with an equity base of Rs 3,000 crore.
The token tax and passenger tax is being waived for six months from July, 2016 to December, 2016. An amnesty for waiving off interest and penalty on arrears of passenger tax up to the year 2015-16 is being proposed.
Also, incandescent bulbs are proposed to be kept under 40% rate tax category. In addition to the above, manufacturing of incandescent bulbs shall be kept in the negative list of industries.
The Gross State Domestic Product of Jammu and Kashmir for 2017-18 at constant prices is estimated to be Rs 1,06,530 crore. This is 7.8% higher than the estimate for 2016-17.
The total expenditure for 2017-18 is estimated to be Rs 79,472 crore, a 29.3% increase over the revised estimate of 2016-17. In 2016-17, there was a decrease of Rs 3,189 crore (4.9%) of expenditure in the revised estimate over the budget estimate.
The total receipts (excluding borrowings) for 2017-18 are estimated to be Rs 65,798 crore, an increase of 26.8% over the revised estimates of 2016-17. In 2016-17, total receipts fell short of the budgeted target by Rs 1,300 crore.
The revenue surplus for the next financial year is targeted at Rs 9,349 crore, or 6.2% of the state Gross Domestic Product (GDP). Fiscal deficit is targeted at Rs 9,354 crore (6.2% of state GDP).
Read: PRS legislative research - Jammu and Kashmir Budget Analysis 2017-18
Known for his indelible roles in Gangs of Wasseypur and Nil Battey Sannata, Pankaj Tripathi hails from a village in Bihar where many people still don’t have TV sets at home. His parents are farmers in Gopalganj district and the down-to-earth actor likes working in his farm whenever he visit
The National Aeronautics and Space Administration (NASA) and the National Oceanic and Atmospheric Administration (NOAA), in independent analyses, have declared 2016 the hottest year since 1880. Scientists have said that the planet witnessed three consecutive years of record heat. The
Does India need IPS and IAS officers?
Steel minister Chaudhary Birender Singh has directed a high-level coordination committee comprising CMDs and top ministry officials to be constituted for pooling and sharing of resources among PSUs. He said, “This will lead to aggregation of demand and economies of sc
India has submitted its first request for establishment of a dispute panel against the US at the World Trade Organisation (WTO)—a request that was blocked by Washington on February 20 stating that this dispute was launched for purely political reasons. According to India, eleven measures ad
The Central Board of Film Certification seems to be fast turning into 16th century Italian theatre Commedia dell`arte, whose special characteristic is the lazzo - a joke. And Pahlaj Nihalani is the prima donna of all that is not right with the censor board. Nihalani, who is frequently quite