J&K administration has recently said that they have collected GST to record high due to the better management of taxes and systems.
There has been financial transparency in Jammu and Kashmir in the past few years which is being reflected by the figures of tax revenue.
The J & K administration recently said the impressive tax revenue generated during 2021-22 indicates revival and recovery of the business and trade activities in the Union Territory.
The government said proper tax planning, effective monitoring and efficient implementation of the tax statutes with initiatives aimed at bringing transparency and accountability in the system contributed towards scaling up the momentum of revenue collection in J&K.
Finance department has played a pivotal role in bringing the economy on the right track after the pandemic. “The treasury management was also remarkable in the previous financial year, and all the verified bills of contractors have been cleared and paid in a timely manner.
Lieutenant Governor Manoj Sinha hailed the Jammu and Kashmir Budget for the financial year 2022-23 and said that it will meet the needs and aspirations of the people of Jammu and Kashmir.
He further said that the main goal of the Budget for 2022-23 is the economic development of every region in the Union Territory. “The Budget for 2022-2023 is going to meet the needs and aspirations of the people of Jammu and Kashmir. This is a development-oriented budget and economic development of every region is the main goal of this Budget. This Budget is going to bring a change in J&K at a polemic pace.