Jammu and Kashmir’s Lieutenant Governor, Manoj Sinha, stated that the reforms implemented in the past few years have resulted in the growth of the state’s GDP. The GDP has increased from Rs 1.6 lakh crore in 2018-19 to Rs 2.64 lakh crore in 2021-22. During a press conference, Sinha also mentioned that the Interim Budget has projected a GDP of Rs 2,63,399 crore for 2024-25. The primary focus of the administration is to further accelerate economic development in the region and make it multi-dimensional. The Budget for 2024-25 is focused on growth and aligns with the UT government’s goal of doubling the economy in the coming years. The size of the Budget for 2024-25 is Rs 1,18,728 crore, with revenue receipts estimated at Rs 97,861 crore and capital receipts estimated at Rs 20,867 crore. Sinha highlighted the positive financial performance of J&K Bank, which was previously incurring losses but is now making a profit of Rs 1,300 crore. The administration also aims to reduce revenue expenditure and increase capital expenditure. Sinha mentioned that the J&K administration has taken responsibility for repaying power debts amounting to Rs 28,000 crore. The economic condition of Jammu and Kashmir has improved significantly, with a quantum jump in capital expenditure from Rs 11,000 crore to Rs 38,000 crore. Sinha also revealed that 1,500 flats were provided as transit accommodation for Kashmiri Pandits for 2024-25.