KCCI Applauds Inclusion in J&K Budget, Criticizes Reduced Size Amid Climate Concerns

The Kashmir Chamber of Commerce and Industry (KCCI) praised the J&K budget for incorporating its recommendations but expressed disappointment over its reduced size compared to the previous year. While lauding measures like free electricity and transport, KCCI urged for more funding on industrial sector revival and effective waste management.

The Kashmir Chamber of Commerce and Industry (KCCI) expressed approval for the incorporation of its suggestions in the newly unveiled Jammu and Kashmir budget, focusing on welfare and development for the 2025-26 fiscal year.

Despite praising initiatives like free electricity for Antyodaya Anna Yojana households and free transport services for women, thus promoting social equity, KCCI voiced concerns over the budget’s reduction in size from the previous year's allocation of Rs 1.18 lakh crore to Rs 1.12 lakh crore. This reduction has raised alarms among business leaders, expecting larger fiscal support to handle economic challenges.

The budget's announcements, including the establishment of PM Unity Malls and support for handicrafts and handloom cooperatives, were welcomed. Still, KCCI emphasized the necessity for more funding to boost the industrial sector and address high unemployment rates. Further, the need for effective waste management and water treatment solutions was highlighted in light of climate change challenges.