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Jammu & Kashmir Budget 2018 – Free PDF Download – UPSC, SSC, Bank By Qurat Malik

Budget Highlights(2018-19)

  • Total expenditure : Rs 80,313 crore(15.2% increase over revised estimate).
  • Revenue surplus for next financial year : (8.3% of GDP)
  • Fiscal Deficit : 6.1 % of GDP.
  • GDP : 6.9 % higher than the estimate for 2017-18
  • The departments of Power, Home, Education, Health and Medical Education , Rural Development and Housing saw the highest increase in allocations.
  • Economy : Expected to grow 6.9%
  • Agriculture : 6.8%
  • Industry : 6 %.
  • Service : 5.7%
  • Abolition of treasuries and replacing them with PAO(Pay & Account)system which will use IFMS (Integrated Financial Management System).
  • R&B & PHE and Irrigation and Flood Control will move to PAO system by mid-February.
  • PSUs get a boost
  • Rs 5 crore for meeting cost of VRS/GHS in PSUs
  • Revamp of the corporate governance structure of the JKSPDC. To compete with J&K Bank for the top profitable company owned by the state government
  • Initiated the process of financial engineering in public enterprises
  • Rs 5 crore each to the Handicraft Development and Handloom Development.

Government Employees

  • 1 % DA Allowance to all employees w.e.f 1st july , 2017.
  • Implementation of 7th Pay Commission Recommendations from April 1, 2018 w.ef 1st , january 2016.
  • Eligibility for full pension reduced from 28 years of qualifying service to 20 years of qualifying service.
  • Unmarried daughters” of the employees, to receive pension once the employee and his/her spouse is no more.
  • Enhancement of the Deposit Linked Insurance of GP Fund subscribers from Rs. 10 lakh to Rs. 50 lakh. 
  • Group Mediclaim Insurance Policy , extented to non Gezzeted and pensioners also.
  • Personal Accidental Insurance increased from Rs. 5.00 lakh to Rs. 10.00 lakh.
  • “Assured Career Progression Scheme” for all the Gazetted cadres of engineering departments
  • Rs2.00 crore to be spent for construction of prefab huts for security guards.
  • Directorate of Estates shall create an SPV in partnership with the J&K Bank and undertake all the pending housing projects.(500 crores)

Stakeholders: Businessmen, Traders

  • Two SROs namely SRO 519 and SRO 521 have been issued to provide for 42% of CGST reimbursement .
  • Refund of SGST.
  • Suitable incentive in lieu of CST exemption to be provided to the industrial units in the State.
  • GST on walnuts, papier mache and willow wicker to be reduced from 12 percent to 5 percent. GST on Carpets will also be brought down within 5 percent tax bracket.
  • Joint venture with Govt of Dubai for setting up an Inland Container Depot (ICD) or dry port in Kashmir .
  • Revival and re-commissioning of the following projects:
  • a) Revival of Woollen Spinning Plant (Shoddy) at Solina Srinagar with an estimated cost of Rs. 5.56 crore.
  • B)  Re-commissioning of Spinning Mills, Nowshera with an estimated cost of approximately Rs. 5.00 crore.
  • C) Setting up of Silk Factory, Bari Brahmana with an estimated cost of Rs.10.00 crore.
  • The World Bank has in principle agreed to fund the renovation and recommissioning of The Common Facility Centre (CFC) for Cricket Bat Industry at Sethar, Anantnag project which costs Rs 4.34 crore.
  • Rs. 25.00 crore to finance orchard re-plantation/high density plantation initiative
  • 50 %interest subvention for procurement of refrigerated vans by the Farmers’ Cooperatives or private entrepreneurs.
  • Rs. 2 crore for the procurement of carriage containers for apple crop at the farms.
  • Orchard Connectivity Plan.
  • 50 per cent Interest Subvention on bank finance for development of fish farms.
  • 50 per cent Air freight subsidy on the export from the State for the first two years..
  • Under the “Renewable Energy Mission”, MN&RE has set a target of 5,000 MW upto 2022 in the small hydel category.
  • J&K Renewal Energy Corporation .
  • Capital infusion of Rs. 255 crore in Anantnag Central Cooperative Bank, Baramulla Central Cooperative Bank, and Jammu Central Cooperative Bank.

Legislative & Institutional Initiatives

  • A uniform Employment Code for the State, containing all the labour laws in force in the State.
  • Will set out the framework for terms of employment and service of all the workers except domestic workers and agricultural labour.
  • A separate labour judiciary.
  • Creation of separate Department of Parliamentary Affairs.
  • Constitution of a State Finance Commission in terms of the Jammu and Kashmir State Finance Commission for Panchayats and Municipalities Act, 2011.
  • Real estate, electricity, alcohol and Petroleum to be bought under a J&K GST .
  • Toll cancelled on following commodities:
  • (i) Vegetables,
  • (ii) Medicines,
  • (iii) Sugar,
  • (iv) Salt,
  • (v) Tea,
  • (vi) Soaps/Detergents,
  • (vii) Sanitary items,
  • (viii) Water coconut,
  • (ix) Wheat seeds,
  • (x) Tree spray oil,
  • (xi) Newsprint
  • (xii) Jaggery (Gur).


  • Abolition of basic toll on all non-commercial, private light motor vehicles.
  • Abolition of toll on export of all types of fruits produced within the State.
  • Abolition of toll on export of gypsum.
  • Abolition of Lower Munda and Heerpur Toll Posts.
  • Raise of toll from existing slab of Rs. 80 per quintal to Rs. 100 per quintal(wheat bran to be included)
  • Toll on tobacco, to be raised, from the existing Rs. 290 per quintal to Rs. 400 per quintal.

Debt Relief

  • “CM’s Business Interest Relief Scheme“: Government will contribute one third of the total interest payment of all the borrowers.
  • For two calendar years starting January 1, 2018 to December 31, 2020.(Initial provision of Rs. 200 crore).
  • One time waiver of soft loans in respect of 19 Houseboat owners who had taken loans from Banks other than J&K Bank and SBI


  • Waiver of penalty and interest on arrears of tax in respect of all the dealers registered under the provisions of J&K Value Added Tax, 2005 and J&K General Sales Tax Act, 1962.
  • Waiver of interest and penalty on all the power arrears owed to the Government by the industrialists and hoteliers and tourist resort owners.
  • Waiver of the token tax and passenger tax for six months from 1st July, 2016 to 31st December, 2016.

Stakeholders: Youth

  • Students : weaker sections, SC, ST and Children of single mothers, who after qualifying examinations like CAT/GMAT/GRE/CFA/GATE/CLAT/ USMLE/PLAB secure admissions in different Universities in the country and abroad, at post-graduation and PhD levels : interest subvention on the education loans till the completion of the course.
  • Vocational training opportunities to the lesser educated youth.
  • Educational/ learning tours.(1300 this year), 10 crores for this purpose.
  • Stamp duty exemption up to Rs. 3 lakhs to all the Self Help Groups (SHGs) and Joint Liability Groups( JLGs) promoted by NABARD.

Poor and Marginalised

  • Group Insurance Policy.
  • Insurance coverage of Rs. 1 lakh to all the BPL families of the State as certified by the FCS&P Department.
  • I propose every transgender shall be treated as living under BPL unless indicated otherwise.
  • Free life and medical insurance cover and a monthly sustenance pension on the pattern of old age pension scheme for all transgender people above the age of 60 .
  • Gender re-assignment surgeries to be financed by state government(1 crore).
  • Maintenance and repair and other associated infrastructural requirements of orphanages and old age homes.(5 crore).
  • Low cost housing .(15,000 : 35).

Additional informations

  • Upgradation of 400 Schools, expediting the execution of 22 Model Schools, and completion of another 50 under construction School buildings is proposed.(Rs. 150 crore).
  • For 17 new Degree Colleges, I propose to allocate another Rs. 50 crore.
  • Rs. 200 crore under NABARD for taking up major Water Supply Schemes in next year.
  • For 2018-19, Government has decided to launch a Completion Plan with impetus to complete languishing bridges, schools and water supply schemes.

Composition of Tax Revenve

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