*UT budget ‘anti-existing industry’: FOIJ
Excelsior Correspondent
JAMMU, Mar 7: The annual budget of JKUT for the year 2025-26, which was presented in the Legislative Assembly here today, has evoked mixed reaction, but the Federation of Industries Jammu (FOIJ) has termed it as ‘anti-existing Industry’.
Federation of Industries Jammu (FOIJ), in its meeting held here today under the chairmanship of Lalit Mahajan, in presence of its office bearers, the speakers showed their resentment for neglecting the existing industrial units of J&K in the Budget for the Financial year 2025-26 presented by J&K Chief Minister today and termed it as “anti existing industry”.
The members expressed their disappointment and dismay over the budget announced today which has failed to address the concerns and needs of the existing industry in the region. The Budget, instead of providing relief and support to the struggling industries has made it even more challenging for them to survive, they said.
“In the proposed Budget Rs 130 cr is earmarked for turnover incentive/subsidy which also includes State incentives including DG sets subsidy, marketing support for Handloom/Handicraft etc. and other State Industrial incentives related to Industries and Commerce Department. This meagre amount does not meet with the already announced turnover incentives @3% and 2%,” they added.
“The Chief Minister had assured us that the entire issues related to Industrial Sector highlighted by the Federation shall be addressed but very meagre relief has been given to the existing Industrial sector in the Budget,” they remarked.
FOIJ, however, conveyed thanks to Chief Minister towards the positive steps taken for the implementation of New Industrial Policy which also includes the Marketing support in the shape of price/purchase preference for the MSME units with a request to take the suggestion from the Stake holders before finalizing the same.
Kashmir Chamber of Commerce and Industry (KCCI) welcomed the budget presented by Chief Minister Omar Abdullah, highlighting that many of its recommendations have been incorporated, which aligns with the aspirations of the business community in Jammu and Kashmir.
KCCI also welcomed the provision of 200 units of free electricity for AAY households and the introduction of free transport services for women, both key measures promoting social equity. It also lauded the announcement of the establishment of PM Unity Malls in Srinagar and Jammu to support local artisans, this demand for establishing exhibition mart in Kashmir was presented by KCCI at different levels of governance both at Centre as well as in J&K . Additionally, 75 crore allocation for a strategic investment plan for Micro, Small, and Medium Enterprises (MSMEs) is good, but KCCI had hoped for more funding for the revival of industrial sector and general trade in the Budget.
KCCI welcomed budget support for 2,000 handicrafts and handloom cooperatives, reflecting a strong commitment to cultural heritage. The chamber also appreciates the allocation of Rs 50 crore for financial aid and mentorship programs for emerging entrepreneurs.
The development of 46 new industrial estates with Rs 310 crore allocated, along with Rs 100 crore for upgrading existing estates, indicates a focus on industrial growth, which is a welcome move, they added.
KCCI also appreciated that the enhancement of budgetary allocation of Rs 2221 crores an increase of Rs 332 crore over last budget will boost the agriculture and horticulture sectors besides Rs 80 cr for sewage and water treatment plants at tourist locations.
FICCI FLO Jammu, Kashmir & Ladakh Chapter extends congratulations and gratitude to the Chief Minister Omar Abdullah for presenting a progressive and inclusive budget that prioritizes women’s welfare, education, healthcare and travel.
In a statement the FICCI FLO said that the newly announced welfare measures reflect a strong commitment to uplifting vulnerable sections of society. The provision of 200 units of free electricity for families under the Antyodaya Anna Yojana (AAY) and 10 kg of free ration per month from April 1 will significantly ease financial hardships for economically weaker families.
The increase in marriage assistance from Rs 50,000 to Rs 75,000 will provide much-needed support to underprivileged families, ensuring greater financial stability. Additionally, the provision of free travel for all women on government-operated transport, including e-buses, will improve mobility and access to education, employment, and healthcare opportunities.
Chairperson of FICCI FLO JKL, Ruchika Gupta, expressed deep appreciation for the budget’s focus on women’s empowerment, education, healthcare and travel emphasizing that these provisions will create a more equitable and progressive society.
Indian Chamber of Commerce (ICC) Jammu Chapter, chairman, Rahul Sahai has lauded the budget, calling it a well-balanced and growth-oriented financial plan that will accelerate the prosperity of Jammu & Kashmir.
“The budget reflects a strong commitment to industrial growth, tourism development, youth empowerment, and infrastructure expansion while ensuring inclusive economic progress,” Sahai said.
He appreciated the government’s vision in promoting tourism by announcing key projects such as the development of Ranjit Sagar Lake, the construction of a water park at Sidhra, the expansion of Jamboo Zoo, and the establishment of a state-of-the-art Convention Centre at Sidhra. These initiatives will enhance J&K’s tourism potential, specially Jammu’s tourism circuit and create employment opportunities for the youth.
While welcoming a major boost to the MSME sector, Sahai said that the budget proposes a Rs 50 crore allocation for an incubation centre, price preference for J&K-based MSMEs on the GeM portal, and the expansion of the CGTMSE scheme under the RAMP initiative, which will significantly benefit small businesses. The proposal to develop a PM Unity Mall in Jammu for crafts and handicrafts is a welcome step that will empower local artisans and promote “Brand J&K” on a national and global level.
The budget also takes a strong stance on industrial development, with a Rs 625 crore allocation to support new industries and infrastructure expansion in 64 industrial estates, with 46 more under development.
J&K unit of BJP has said that the maiden budget presented by the NC government has utterly betrayed the public mandate and shattered the hopes of J&K residents. The budget essentially represents a complete U-turn by the NC Govt on its Assembly election manifesto, in which it had promised moon to the masses, but now completely failed in living up to its promises.
Reacting to the Budget JKUT president Sat Sharma, rued that the CM’s speech signified a distress note, which was bursting with a sense of helplessness, dependency and vulnerability rather than assertiveness to take J&K forward on the path of development that has been ensued by the Prime Minister Narendra Modi led government.
BJP leader said that the manifesto had promised the free 200 units of electricity to every household without mentioning any riders, which is now restricted to only AAY households. This is complete betrayal with the people of Jammu & Kashmir and negation of the manifesto of the National Conference.
Sharma said that the 1 lakh jobs promised to the youth in the manifesto nosedived with no practical vision in the Budget presented, as the NC had promised that within 3 months of forming their government, youth employment generation act will be brought into existence to focus on a sustainable environment for employment.
Senior BJP leader and former DyCM, Kavinder Gupta expressed deep dissatisfaction over the J&K budget, highlighting significant omissions in the budget, particularly concerning unemployed youth, marginalized communities, and daily wage laborers.
Gupta emphasized that the budget lacks concrete provisions to address the pressing issue of unemployment among the youth of Jammu and Kashmir. He reminded the Chief Minister of his electoral promise to create one lakh jobs and asked the government to present a clear roadmap to fulfill this commitment. He also expressed concern over the absence of targeted measures for marginalized communities, including OBCs, SCs, and STs. He also raised the plight of daily wagers, who have been adversely affected by economic fluctuations.
BJP spokesperson Altaf Thakur said the promise of 200 free units of electricity was meant for everyone, not just a specific category.
“The budget is nothing but ‘Jumlabazi’ and a betrayal of the promises made during the Assembly elections,” he said.
Thakur slammed the Government for failing to deliver on its promises, questioning the absence of 12 free gas cylinders, the one lakh job guarantee, and free ration. “This budget is nothing but a cruel joke,” he said.
He also criticized the decision to limit the 200 free units of electricity to (AAY beneficiaries, who constitute just 1.5% of J&K’s population, instead of extending it to all as initially promised.
National Conference, Provincial president Rattan Lal Gupta has praised the Rs 1.12 lakh crore budget presented by Chief Minister, describing it as a visionary and historical financial plan that aligns with the aspirations of the people of Jammu and Kashmir.
“This budget is a testament to our government’s commitment to fulfilling the promises outlined in our party’s manifesto,” said Gupta. “It comprehensively addresses the needs of various segments of society, including farmers, industrialists, women, youth, traders, and the common man.”
In a press statement senior NC leader said that the budget allocates Rs 815 crore to promote a two-crop pattern, expand horticulture, enhance wool processing, and develop the leather tanning industry, initiatives expected to generate approximately 2.88 lakh jobs, significantly boosting the agricultural sector. Additionally, Rs 390.20 crore is dedicated to enhancing tourism infrastructure, including increasing home stays, promoting water sports, developing Sonmarg as a winter sports destination, constructing a new water park in Sidhra, and positioning Basholi as an adventure tourism hubs.
Gupta also welcomed the decision of Omar Govt for providing 200 units of free electricity and increase 10 Kg ration per person per month from 5 Kg for AAY families in Jammu and Kashmir, and increasing financial assistance from Rs 50000 to Rs 75000 for the marriage of daughter of a poor families.
Awami Ittihad Party (AIP), has strongly criticized the Jammu and Kashmir Budget 2025 presented by Chief Minister Omar Abdullah, calling it a “complete U-turn” from the promises made by the National Conference (NC) during elections.
AIP chief spokesperson Inam Un Nabi accused the NC government of deceiving the people by failing to fulfill key pledges. “During the elections, they promised 200 units of free electricity for all households. But now, they have limited it to Antyodaya Anna Yojana (AAY) beneficiaries, that too with the unrealistic condition of installing solar panels. This is cruel joke with the economically weaker sections,” he said.
The AIP leader also slammed the government for neglecting thousands of workers awaiting job security. “During elections, the NC promised regularization of daily wagers, casual laborers, contractual employees, vocational trainers and others. Yet, this budget has absolutely no mention of them. These people have been left in limbo once again,” he said.
Nabi said before the new year, the CAPD minister publicly announced that free gas cylinders would be given as a ‘new year gift’ and that Chief Minister would make the official announcement. This is now the third month of the new year, and we are in the second Assembly Session, yet there is no mention of it anywhere in the budget.
People’s Democratic Front (PDF) chairman Hakeem Mohammad Yaseen strongly criticized Chief Minister for what he termed as a “misleading and deceptive” budget that has ignored the majority of Jammu and Kashmir’s population.
In a statement, Yaseen said that the Rs 1.12 lakh crore budget presented by CM for the fiscal year 2025-26 has completely neglected the key concerns of the common people. He said JKNC is betraying public trust by offering selective relief that does not address the broader economic hardships faced by the people of the region.
“It is unfortunate that the ruling government has chosen to deceive the people of Jammu and Kashmir once again. The budget lacks a holistic approach and fails to provide relief to a significant portion of the population,” Yaseen said.
Criticizing the government’s focus on AAY families alone, he added, “Providing relief to only AAY beneficiaries while ignoring the rest of the population is nothing but an attempt to mislead the people,” the PDF leader said.
Social activist Javed Ahmed Tak expressed serious concern over the discrimination with the disabled persons and said that they were expecting a hike in monthly pension from Rs 1000 to Rs 3000 per month but unfortunately Rs 1250 pension has been announced in their favour and they are feeling betrayed.
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