Jammu And Kashmir To Transfer Rs 2,504.46 Crore In Public Debt To Ladakh UT
CM Omar Abdullah told the assembly that the apportionment of public debt has been taken up with the Home Affairs Ministry and Ladakh UT administration.
Published : March 13, 2025 at 7:07 PM IST
Srinagar: The Jammu and Kashmir government on Thursday said that the government will transfer as much as Rs 2,504.46 crore as financial liabilities to UT of Ladakh in accordance with the apportionment of assets and liabilities following the division of the esrtwhile state into two union territories and division of assets and liabilities.
Replying to a question of ruling party legislator Qaysar Jamsheed Lone, chief minister Omar Abdullah said in the ongoing Budget session of assembly that after the reorganisation of Jammu and Kashmir, the apportionment of assets and liabilities is to be carried out as per the notification issued by the General Administration Department in October 2020.
The chief minister said on the apportionment of public debt Rs 2,504.46 crore are to be transferred to Ladakh and the matter has been taken up with the Ministry of Home Affairs and Ladakh UT administration for further processing.
Jammu and Kashmir was divided into two union territories of JK and Ladakh on August 9, 2015 by the BJP-led government when the Article 370 and Article 35A were repealed. The assets and employees of the erstwhile state of Jammu and Kashmir were divided after the government of India set up a three-member committee that was headed by former Defence Secretary Sanjay Mitra and comprised retired IAS officer Arun Goyal and retired Indian Civil Accounts Service (ICAS) officer Giriraj Prasad Gupta as its members.
The committee apportioned the assets and liabilities as per Section 84 and Section 85 of the Jammu and Kashmir Reorganisation Act, 2019. Along with assets, the government employees and the J&K House, Chanakyapuri in New Delhi was also divided between the two UTs.
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