Srinagar: The maiden budget Jammu and Kashmir government drew applause from the business community, but saw the reaction from opposition political parties on expected lines. Chief Minister Omar Abdullah on Friday tabled a Rs 1.12 lakh crore budget for Jammu & Kashmir for the fiscal year 2025-26, marking the first budget of an elected government in the region since 2018.
The Budget carried a series of welfare measures, including 200 free units of electricity to AAY beneficiaries, no stamp on property transfers within blood relations and free bus service for women. Kashmir Chamber of Commerce and Industry described the budget in the right direction saying that several recommendations from the business community have been incorporated into it.
“This aligns with the aspirations of the business community in Jammu and Kashmir,” said KCCI Secretary General Faiz Ahmad Bakshi. He hailed abolishing stamp duty on property transfers within blood relations saying it could bring down inheritance disputes.
Bakshi highlighted the establishment of PM Unity Malls in Srinagar and Jammu to support local artisans saying the demand for establishing an exhibition mart in Kashmir was presented by KCCI at different levels of governance both at the centre as well as in J&K.
“Additionally, Rs 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,” he added.
The Apex Business body also welcomed the financial support for 2,000 handicrafts and handloom cooperatives, reflecting a strong commitment to cultural heritage. An official of the Jammu Chamber of Commerce and Industry said they will react to the Budget announcements tomorrow.
But the political opponents of the ruling government reacted on expected lines barring Congress and CPI, which blamed the financial constraints. Congress legislator Nizam u Din Bhat said it is the first budget of the Union Territory government and as such constraints are well known. But, he said that amid this the Chief Minister has tried to be people-friendly and he has well managed to meet some of the key areas as per need and the commitments made to people
“This budget should satisfy the common man because of the welfare measure proposed as many sections are getting maximum relief. The electricity to poor and zero fees for transfer of property in blood relations and free bus travel to women are bold measures for a UT CM particularly for a CM whose local resources are limited,” Bhat added.
Communist Party of India (M), which is an ally of the government, too, saw disappointment in the budget, but put the blame on the central government for not providing the financial support required. State Secretary CPI(M) Mohamad Abass Rather said that people had pinned expectations from the budget, but the necessary financial support from the Central Government was not provided as required, leaving the concerns of farmers and daily wagers unaddressed.
However, the party welcomed free ration and free electricity under AA announcements in the budget. “Unemployed youth, casual labourers and daily wagers were expecting major relief in the budget, but their concerns have been overlooked,” he said.
MLA Handwara and JK Peoples Conference President Sajad Lone sharply called it an "expected disappointment". He said that he had expected a politically viable and economically vibrant budget rather than a routine statement of outlay and expenditure.
"Even the promised 200 units of electricity are only for AAY beneficiaries and are linked to the Centrally Sponsored Rooftop Scheme, which has approximately a 65% central share with a cap of 3 kW. Too many strings attached," he stated.
Lone also took issue with fuel price hikes, stating, "Petrol and diesel prices are set to increase by ₹1/Lt and ₹2/Lt, respectively, due to a reduction in rebates on petrol and diesel."
The Awami Ittihad Party (AIP) saw it as a "complete U-turn" from the promises made by the ruling National Conference in elections.
"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 nothing, but a cruel joke on the economically weaker sections," said AIP Chief Spokesperson Inam Un Nabi.
He slammed the budget for failing to address the unemployment crisis saying the budget prioritises agriculture and tourism with Rs 815 crore and Rs 390 crore allocations respectively, but there is no meaningful plan to generate employment for our struggling youth.
Bharatiya Janata Party (BJP) too called the budget a “complete failure” and accused the government of deceiving the people of Jammu and Kashmir. BJP J&K spokesperson Altaf Thakur 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,” Thakur said.
He also slammed the government for announcing 200 units of free electricity only to Antyodaya Anna Yojana (AAY) beneficiaries, which he said covers just 1.5% of J&K’s population, instead of extending the benefit to all, as was promised.
“This is outright deception. Omar Abdullah came to power by making grand announcements, but his government has failed on every front. The people will not forgive this betrayal,” Thakur said.
Read more: 'My Body Is Torn': Omar Abdullah Acknowledges Difficulties In Jammu Kashmir Yet Unveils Welfare Schemes In Budget
