Excelsior Correspondent
JAMMU, Feb 6: The Jammu and Kashmir Budget which was presented in the Legislative Assembly by the Chief Minister Omar Abdullah has evoked mixed reaction, however, J&K Industry has termed it as anti-existing Industry.
Bari Brahmana Industries Association (BBIA) in an urgent meeting held here today under the chairmanship of its president, Lalit Mahajan, has shown grave concern in respect of totally neglecting the existing Industrial Sector of J&K in the Budget presented by Chief Minister, today and termed it as “Anti- Industry”.
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While going through the Budget proposal it is very unfortunate that no provision has been done for the extension of State Turnover Incentive which is valid upto 31-03-2026 and Interest Subversion under the NCSS-2021 for Existing Industries in spite of various representations and threadbare discussions held in the Pre-Budget meetings in spite of assurance given by Govt from time to time for the continuation of State/Central Fiscal Incentives upto 31-03-2031 as hand holding support to local exciting MSME units working in the hostile conditions since 1990 providing the employment to lakh of local people.
BBIA appealed to the Chief Minster that while finalization of amendments to the &K Industrial Policy 2021-30, it is the need of the hour to extend the Turnover Incentive / Interest Subvention upto 31-03-2035 and reimbursement of road freight on the incoming raw materials to sustain industrial growth of existing working units for their survival.
Federation of Industries, Jammu (FOIJ) Chairman and president, Association of Industries (AOI), Gangyal, Ravindra Jain, in a meeting of the office bearers of FOIJ/AOI, has expressed that the Budget proposals for the year 2026-27 have not included various proposals forwarded by the Association/ Federation during the pre-budget meetings with the Chief Minister recently.
Reacting to the Budget proposals, Jain said the Chief Minister has assigned to many sectors various priorities but the Industrial Sector, specifically, Micro/ Small sector, have not been accorded due priorities in an effort to protect the very existence of the small sector units. AOI emphasis to provide marketing support, price/purchase preference to the local units, provide fiscal incentive like Turnover Incentives and Interest Subvention sector, till 2031 through adequate allocation of funds in the time bound manner.
The Federation of Chambers of Industries Kashmir (FCIK) has hailed the 2026-27 Budget presented by Chief Minister Omar Abdullah as a visionary and reform-driven blueprint, poised to transform Jammu and Kashmir into a modern, progressive, and economically vibrant region-anchored in resilience and propelled by hope.
The FCIK appreciated the Chief Minister’s resolve that the soul of Jammu and Kashmir has been forged through testing times, with a government committed to turning obstacles into stepping stones and aspirations into achievements. The Federation sees this spirit reflected in the Budget’s focus on economic revival, inclusive growth, and participatory governance, and welcomed the commitment to building a business-friendly ecosystem that fosters innovation and attracts investment.
The FCIK noted the strong macro-economic outlook outlined in the Budget, with GSDP projected at 2,88,422 crore for 2025-26 at 11 percent growth, and sectoral composition of Primary 20%, Secondary 18%, and Tertiary 62%, underscoring the need for production-oriented growth alongside services for balanced and sustainable development.
The Indian Chamber of Commerce (ICC), Jammu Chapter, has welcomed the Jammu & Kashmir Budget, describing it as progressive and fiscally stable in spite of limited funding availability, and reflective of a balanced and reform-oriented approach to governance.
Reacting to the Budget, ICC Chairman Jammu, Rahul Sahai, said that the government has demonstrated fiscal prudence and strategic prioritisation while addressing development needs amid economic constraints, security challenges and recent natural calamities. Sahai appreciated the focus on capital expenditure, infrastructure creation and governance reforms, particularly the inclusion of Jammu & Kashmir under the Special Assistance to States for Capital Investment (SASCI) scheme, which provides long-term interest-free funding for infrastructure and disaster mitigation. He said that sustained investment in power, roads, health, education, agriculture, tourism, skilling and employment generation will help stabilise the economy and create long-term growth opportunities across the Union Territory.
Referring to the industrial and MSME sector, Sahai noted that the Budget acknowledges the strong industrial performance achieved in recent years, including increased investments, job creation, startup growth and improved Ease of Doing Business rankings. He welcomed the proposed amendments to the J&K Industrial Policy 2021-30 aimed at sustaining industrial growth beyond the NCSS scheme.
The Chamber of Traders Federation (CTF), Jammu has welcomed the J&K Union Territory Budget today, describing it as a forward-looking and development-oriented budget aimed at strengthening the economic framework of the Union Territory.
After holding detailed discussions with senior members Raman Gupta, Parveen Gupta, Devinder Gupta, Neeraj Anand, president, CTF Jammu, said that the budget reflects the government’s commitment towards economic growth, infrastructure development and improving the ease of doing business, which will positively impact the trading and business community.
They said the positive aspects of the budget for traders and businesses include– strong thrust on infrastructure and urban development, enhancing connectivity and business efficiency, emphasis on ease of doing business, digital governance and transparent systems.
Chamber of Tourism Trade and Industry, Katra (CTTIK) welcomed the launch of new connectivity services to various prominent pilgrim destinations by the Jammu & Kashmir Government under CM Omar Abdullah. A spokesman of the CTTIK in his reaction stated that the newly inaugurated transport services to important religious destinations including Shahdra Sharief, Jwalaji, Namgyal Monastery (McLeod Ganj), Shri Anandpur Sahib, Ajmer Sharief and Sardhana will significantly enhance convenience and affordability for residents of Jammu and Kashmir undertaking pilgrimages thereby strengthening spiritual tourism across the region.
Raj Kumar Padha, president CTTIK lauded the proactive efforts of the Transport Department and the JKRTC for initiating these people-friendly services, terming them a positive step towards inclusive and accessible public transport. He advocated for extending direct connectivity from Katra to key pilgrim destinations such as Haridwar, Khatu Shyam, the four Devi shrines-Chamunda Devi, Kangra Devi, Jawala Devi and Chintpurni-as well as Kheer Bhawani in Srinagar.
National Conference general secretary Ali Muhammad Sagar welcomed the annual budget for the financial year 2026-27, describing it as a progressive, people-centric and development-oriented financial roadmap that lays a strong foundation for long-term, sustainable and inclusive growth across Jammu and Kashmir.
In a statement issued here, Sagar said the second budget presented by Chief Minister Omar Abdullah is in the best interest of the poor and middle class.
Sagar highlighted that the budget includes commendable measures to promote key sectors such as agriculture, horticulture, tourism, health, education, electricity, sports, and social welfare, which will particularly benefit the youth of the region.
The Jammu and Kashmir National Conference, Provincial president for Jammu, Rattan Lal Gupta, today welcomed the annual budget for the financial year 2026-27, presented by Chief Minister Omar Abdullah, describing it as a progressive, people-centric and development-oriented financial roadmap that lays a strong foundation for long-term, sustainable and inclusive growth across all sectors.
In a statement here today Gupta said that the Budget 2026-27 reflects the government’s firm commitment to public welfare, social equity and economic resilience, with a clear emphasis on strengthening human capital and improving service delivery. He noted that education and healthcare remain at the core of the budgetary priorities, with enhanced allocations aimed at upgrading and augmenting existing health infrastructure across all districts to ensure access to both routine and specialised medical care. The proposed establishment of Trauma Centres at Poonch and Uri and targeted investments in health services will significantly improve emergency response and healthcare outcomes.
NC’s additional general secretary and former minister, Ajay Sadhotra also hailed the Budget presented by Omar Abdullah in the J&K Legislature today and termed it as balanced, visionary and growth oriented budget. He said all the sectors have been taken care of in the Budget for the year 2026-27 by the Omar- led Government.
Leader of Opposition in the J&K Legislative Assembly and senior BJP leader Sunil Sharma today launched a scathing attack on the 2026-27 Budget presented by Chief Minister Omar Abdullah, describing it as “disgusting and disappointing”.
In a strong reaction, Sharma alleged that the budget has shattered the hopes and aspirations of all sections of society in Jammu & Kashmir. He accused the National Conference-led government of preparing a partisan document that disproportionately benefits constituencies represented by ruling party MLAs while completely neglecting the genuine concerns of the common people.
He said that the budget fails to address the long-pending issues of daily wagers, who have been met with mere “toffees” instead of meaningful relief or regularization. It shows no serious commitment toward providing employment opportunities to the unemployed youth of Jammu & Kashmir.
Sharma termed the budget a huge betrayal of the people of Jammu and Kashmir, stating that it has dashed the expectations of every social class be it daily wagers, unemployed youth, middle-class families, or economically weaker sections.
BJP general secretary and former MLC Vibodh Gupta launched a sharp attack on the Jammu and Kashmir government’s budget, terming it directionless and completely disconnected from ground realities.
Addressing media persons in Jammu, Vibodh said the budget lacks political vision and does not reflect the aspirations of common people, especially daily wagers, unemployed youth, BPL and EWS families.
Raising concern over welfare promises, Vibodh said the earlier assurance of 12 free LPG cylinders for poor families has been significantly diluted, now limited only to Antyodaya Anna Yojana beneficiaries. He questioned the government’s intent and capacity to even implement this reduced commitment on the ground.
On unemployment, Vibodh said the budget failed to honour earlier commitments of filling vacancies within a stipulated timeframe. He criticised the move to outsource thousands of jobs, calling it a backdoor system that undermines merit and transparency. “Youth want fair competition through proper recruitment processes, not arbitrary hiring without exams or interviews,” he asserted.
Chairman Kissans’ Congress Department, JKPCC, Bharat Priye, said that Kissans residing along the border area face lot of hardships due to border firing as well as army activities, they cannot plough their fields in time and on many occasions their crops are being destroyed besides in hilly areas of the state, their farming activities affected due to natural calamity. But they are not getting adequate compensation for the loss of crops and live property. The seed and fertilizers and other farming material is very costly and were expecting some relief in the 2026 budget. But it was very unfortunate, there was no mention of Kissans in the Budget.
People’s Democratic Front (PDF) president and former minister Hakeem Mohammad Yaseen on Friday came down heavily on the Omar Abdullah-led government, accusing it of presenting a “figure-heavy but people-light” Budget that has failed to address the most pressing concerns of Jammu and Kashmir’s working poor.
Reacting to the Chief Minister’s second annual Budget of Rs 1,13,767 crore (net), Yaseen said thousands of daily wagers, casual labourers, and Anganwadi workers were once again left disillusioned, as the much-promised regularisation and enhancement of honorarium found no mention in the financial roadmap.
“The Chief Minister showered praise on daily wagers and Anganwadi Workers for their services, but praise does not put food on the table. These workers have been waiting for justice for decades, and yet the Budget offers them only assurances, not solutions,” Yaseen said.
Shiv Sena (UBT) Jammu and Kashmir unit has termed the budget presented by the Omar Abdullah government as full of ambiguities. Reacting to the budget, party state chief Manish Sahni said that while promises were made to develop tourist destinations to world-class standards, no special allocation was made for the tourist spots in Jammu, which are in dire need of development.
He further stated that the announcement of 23,000 jobs for the youth, who are grappling with a high unemployment rate, is like a drop in the ocean. There is no provision for unemployment allowance for the youth. There is also no clear policy for women’s empowerment. The Omar Abdullah government has failed to fulfill even the promises made in its manifesto, such as 200 units etc. There is no clarity regarding the regularization of daily wage workers and an increase in the salaries of ASHA workers.
Nationalist Congress Party (NCP) National spokesperson youth Rishi Kilam has launched a scathing attack on Chief Minister Omar Abdullah’s recently presented budget, calling it a “complete failure” and accusing the National Conference (NC) government of deceiving the people of Jammu and Kashmir. NCP National spokesperson Rishi Kilam minced no words, terming the budget as nothing but “Jumla Bazi” and a stark betrayal of the promises made during the elections. “Where are the 12 free gas cylinders that Omar Abdullah promised? Where is the one lakh job guarantee? Where is the free ration? This budget is a cruel joke on the people of J&K,” Kilam thundered.
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