Jammu, March 7 – Jammu and Kashmir Chief Minister Omar Abdullah, while presenting the much-anticipated state budget on Friday, underscored his government’s commitment to economic revival, youth empowerment, and regional development. Marking the first budget presented by an elected government in seven years, Abdullah emphasized that J&K is on a decisive path toward lasting peace and sustainable growth.
Key Budget Highlights:
✅ Agriculture Boost: Rs 815 Crore Allocation
Recognizing agriculture as the backbone of the economy, the government has earmarked Rs 815 crore for the sector, aiming to create 2.88 lakh new jobs. The budget outlines an expansion in horticulture, a shift towards a two-crop pattern, and initiatives to boost wool processing and the leather tanning industry—a move expected to strengthen the local economy and generate employment.
✅ Tourism Development: Rs 390 Crore Investment
With J&K witnessing a record-breaking 2.36 crore tourist footfall in 2024, the budget prioritizes tourism as a key economic driver. The government has allocated Rs 390.20 crore to enhance infrastructure, including new homestays, water sports facilities, and winter tourism in Sonmarg. Additionally, plans are in place to develop a water park in Sidhra and adventure tourism in Basholi.
✅ Infrastructure & Economic Growth
The budget proposes the construction of 500 new Panchayat Ghars to strengthen grassroots governance. Additionally, the government aims to establish 64 industrial estates and implement a new trade policy with price preferences for local traders, reinforcing economic self-reliance. The iconic Pashmina industry and seven other regional products will soon receive Geographical Indication (GI) tagging, securing their authenticity and boosting exports.
✅ Healthcare Revolution: AIIMS, Nursing Colleges, & Rs 5 Lakh Health Insurance
In a significant push to healthcare, the government plans to establish two new AIIMS institutions and ten fully-equipped nursing colleges. A universal Rs 5 lakh health insurance coverage scheme has been announced, ensuring comprehensive medical protection for every citizen. Furthermore, the budget provisions include:
- Expansion of dialysis services in all district hospitals
- Installation of MRI machines in government hospitals
- Setting up three new Cath Labs to enhance cardiac care
- Integration of telemedicine services across the state
✅ Film & Cultural Promotion
To transform J&K into a hub for film production and eco-tourism, the government is rolling out a new film policy, inviting national and international filmmakers to the region.
✅ Financial Discipline Amid Challenges
While the budget is ambitious, 70% of the total funds are allocated towards salaries, posing a financial strain. The state also faces high Administrative, Technical, and Non-Commercial (ATNC) losses, along with an increasing debt burden. However, Abdullah reassured that all borrowings remain within the prescribed limits to ensure financial discipline.
✅ Grants & Support from the Centre
The budget incorporates Rs 5,000 crore in grants to accelerate development. Abdullah also extended his gratitude to the Prime Minister, Home Minister, and Finance Minister for their continued support in J&K’s progress.
A Budget for the People
The Chief Minister stressed that public feedback played a crucial role in shaping the budget, ensuring that youth, women, and marginalized communities receive the attention they deserve. The overarching goal remains regional equity, economic stability, and a brighter future for Jammu & Kashmir.
