Gopal Sharma
JAMMU, Feb 1: While the J&K Industrialists have expressed disappointment, the BJP and some other organizations have supported the Union budget presented by Finance Minister, Nirmala Sitharaman in the Parliament today.
The Jammu Chamber of Commerce and Industry (JCCI), termed the Union Budget as disappointing for the industrialists of the Jammu and Kashmir. Its members said today’s budget shattered their hopes.
Arun Gupta, president JCCI while reacting to the Union budget said that industrialists of J&K had high hope from the Union Government in this budget but nothing special has been observed in it for the J&K Industry.
The people of J&K were expecting setting up of some mother Industry in J&K or announcement of Rail Coach Factory in Samba or Jammu, but nothing in this regard was observed. The JCCI hoped that in the upcoming J&K budget something good will come out for the J&K Industry.
Federation of Industries Jammu (FOIJ), has said that people from the industrial sector, specially those from the existing industry, have been disappointed with this Union budget presented by the Finance Minister in the Lok Sabha today.
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FOIJ Chairman, Virendra Jain said that they had high hope from the Union Government about special package as they had submitted several representations to the Union Government through J&K Government and directly as well. There is nothing for the J&K industry in this budget and therefore, the people are now expecting that J&K Government will take care of them in the upcoming Budget this week.
Lalit Mahajan Co-Chairman Federation of Industries Jammu and president of the Bari Brahmana Industries Association lauded the Union Budget 2026-27 presented by Finance Minister in Lok Sabha which he termed as a step towards the world’s third largest economy of Viksit Bharat Mission of Prime Minister Modi with a growth rate of around 7% for stability, sustained growth, fiscal balance, moderate inflation.
While going through the budget highlights, Mahajan termed the Union budget proposal as positive towards overall growth of the country in each sector covering the Yuva Shakti, employment avenues for youths, de-regulations under Ease of Doing Business, Bio-Pharma Sector, Hi-Tech Tool Rooms for Skill Development, Textile Parks, Sports Goods Clusters, Equity Support SME Growth Fund, Benefits to MSME under CGTMSE, Waterways projects for connection the States, reduction of Custom Duty on Electronic goods/parts to encourage the domestic manufacturing, high speed rail corridors , manufacturing of containers, IT Sector, Income Tax Reforms etc.
Mahajan said J&K is an Industrial backward state due to locational disadvantages resulting limited employment opportunities for the local youths. There is urgent need of a Special Central Package of incentives to existing and well as new units in MSME Sector to create the employment avenues for the local youths with the establishment of public sector manufacturing units in the Defence production, Fertilizer Plant, Sugar Mill etc.
While welcoming the Union Budget’s emphasis on strengthening the manufacturing sector, supporting MSMEs, promoting exports, and expanding capital expenditure, the Federation of Chambers of Industries Kashmir (FCIK) has stated that these measures have the potential to bring much-needed stability to the MSME and manufacturing sector across the country.
However, the Apex Industrial Body has expressed deep disappointment over the budget’s complete neglect of the pressing regional needs of Jammu & Kashmir’s industrial sector, despite these concerns having been repeatedly brought to the attention of the Union Government by the UT administration and industry stakeholders.
Though J&K Industry had strongly expected the Union budget to announce a dedicated package and targeted fiscal measures for the region, particularly for existing industry, Neeraj Anand, president Chamber of Traders Federation said that the Budget is an excellent blend of visionary thinking, pragmatic policies and economic empowerment, which will propel India decisively towards the goal of Viksit Bharat @2047.
He described the Budget as a credible and truly inclusive document. The linkage of various provisions of the budget with Swadeshi call of Prime Minister Narendra Modi will boost India’s exports and will obtain new global markets. He added that the Budget strengthens the nation’s economic foundations with its inclusive approach, concrete action plan and clear direction.
“The budget sends a strong and positive message of confidence to traders, entrepreneurs, investors and especially to micro, small and medium enterprises. Its focus on empowering every section of society along with economic growth makes this Budget truly distinctive,” Anand added.
Reacting to the Union Budget, Deepak Gupta, president Traders Federation Ware House Nehru Market Jammu said that the Budget is an excellent blend of visionary thinking, pragmatic policies and economic empowerment, which will propel India decisively towards the goal of Viksit Bharat @2047. The Budget sends a strong and positive message of confidence to traders, entrepreneurs, investors and especially to micro, small and medium enterprises. Its focus on empowering every section of society along with economic growth makes this Budget truly distinctive,” he said.
”The continued thrust on public capital expenditure and infrastructure, including freight corridors, urban economic regions and focus on Tier-II and Tier-III cities, will significantly improve logistics efficiency and regional connectivity, critical for integrating Jammu & Kashmir with national markets,” Deepak said.
Highlighting the special emphasis on the MSME sector, Deepak Gupta said that the MSME growth strategy, including the Rs 10,000 crore SME Growth Fund, mandatory use of the TReDS platform by CPSEs, credit guarantee support for invoice discounting and professional support through ‘Corporate Mitras’.
The Indian Chamber of Commerce (ICC), Jammu Chapter, has welcomed the Union Budget 2026-27 for its strong emphasis on sustained economic growth, fiscal discipline, and structural reforms, while urging the Government to introduce region-specific measures to address challenges faced by industries in Jammu & Kashmir.
Speaking on the Budget, Rahul Sahai, Chairman, ICC Jammu, said that the Budget reflects the government’s approach of “Action over Ambivalence and Reform over Rhetoric”, and lays a solid foundation for long-term economic resilience under the Viksit Bharat vision.
FICCI Ladies Organisation (FLO) welcomed the Union Budget and termed it women centric and MSME -led Growth agenda.
“The Union Budget 2026 sends a clear and confident signal of continuity, credibility, and conviction. It balances fiscal discipline with inclusive growth, and places women, MSMEs, and manufacturing at the heart of India’s development journey. For women entrepreneurs and professionals, this budget is not about short-term sops, but about building long-term capacity, opportunity, and progress,” said Poonam Sharma, president FICCI Ladies Organisation (FLO) and apex body of business women in the country .
AICC, general secretary G A Mir, today said that the Union Budget has disappointed the people of the region, as it does not address unemployment or other key issues of the union territory.
Reacting to the budget Mir said Jammu and Kashmir continued to have the highest unemployment rate in the country, but the budget did not announce any concrete steps or new programs to tackle the problem. “The Union budget is not pro-people for Jammu and Kashmir. People do not see any direct benefit from it,” Mir said, adding that public expectations from the budget had not been met.
JKPCC working president Raman Bhalla stating that the budget has once again exposed the BJP-led government’s misplaced priorities and its failure to address the real issues confronting the common people of the country. He said the budget is anti-poor, anti-youth, and pro-corporate, while Jammu & Kashmir has been completely ignored yet again.
He added that despite tall claims, the budget lacks meaningful interventions for job creation and relief to the middle class and weaker sections. Bhalla said JKUT stands deeply disappointed, as the budget has failed to address the region’s pressing concerns.
BJP’s J&K unit president Sat Sharma (MP) has welcomed the Union Budget, describing it as a bold, visionary and people-centric budget that translates PM Modi’s vision of Viksit Bharat into concrete action.
In his reaction Sharma said that the Budget clearly reflects the Modi Government’s unwavering focus on accelerated development, a resilient economy and building an Atmanirbhar Bharat, rather than indulging in mere announcements. The record public capital expenditure of Rs 12.2 lakh crore, unprecedented support to MSMEs and manufacturing, and far-reaching tax reforms firmly establish the Government’s commitment to boosting investment, employment generation and entrepreneurship.
He stated that decisive measures covering infrastructure expansion, the Semiconductor Mission, biopharma, electronics manufacturing, chemical parks, and logistics will propel India towards becoming a global manufacturing and innovation hub.
The BJP’s Professional Cell, in J&K led by Ved Raj Sharma and others has also welcomed the Union budget. The Cell described it as forward-looking budget, driven by Yuva Shakti and the three Kartavyas -accelerating growth, building capacity, and Sabka Saath Sabka Vikas -reinforces India’s path to becoming a Viksit Bharat by 2047, with a strong emphasis on sustainable economic growth, job creation, and inclusive development.
The Budget will help in robust economic and sustained growth, poverty reduction, and enhanced productivity amid global challenges, with capital expenditure raised to Rs 12.2 lakh crore for infrastructure.
Beti Bachao Beti Padhao J&K UT Convenor, RitikaTrehan, has lauded the Union Budget, describing it as revolutionary, inclusive, and highly visionary, stating that it reflects the Government of India’s deep commitment to the welfare and empowerment of every section of society.
DDC Jammu chairman Bharat Bushan has described the budget as pro-farmers, women and youth.
Shiv Sena (UBT) Jammu and Kashmir unit president Manish Sahni has termed the Union Budget as disappointing for the people of the Union Territory. In his reaction, Sahni said that the lack of any increase in Central assistance for the development of Jammu and Kashmir, and for improving its education and health infrastructure, is disappointed. There is a noticeable absence of a special industrial package. Jammu and Kashmir is currently grappling with a high unemployment rate.
National Mazdoor Conference (NMC) leader Subash Shastri welcomed the Union budget and descrived it as balanced one. Shastri said the documents strengthen the reform process and offers a clear roadmap for developed India by 2047. However, Shastri has widely welcomed the significant increase in the income tax exemption limit announced for the financial year. Calling the budget historic, Shastri said it reflected the strong empowerment of women.
Sunil Dimple, president Mission Statehood (J&K) termed Union budget as a misleading and disappointing. He said this budget is anti- poor, anti- youth and anti- farmer. He alleged that no steps have been taken in budget to stop the rising unemployment, rising prices, and poverty.
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