Jammu & Kashmir's Bold Budget: Empowerment, Tourism, and Economic Upliftment

Jammu and Kashmir unveils a transformative budget aiming at economic growth and peace, including free electricity, tourism development, and industry support. The budget focuses on empowering youth and women, enhancing healthcare, and investing in agriculture while pledging transparency and fiscal discipline.

Deputy Chief Minister Surinder Choudhary of Jammu and Kashmir praised the newly announced budget on Friday, asserting that it meets all the promises made by the National Conference. A key highlight was the inclusion of 200 units of free electricity, which Choudhary claims left the opposition 'shocked.'.

Presenting the budget after a seven-year hiatus, Chief Minister Omar Abdullah emphasized the region's journey towards lasting peace while unveiling a range of ambitious measures. These include aligning with the Sustainable Development Goals, empowering youth and women, addressing regional disparities, and striving to restore statehood.

Abdullah announced a significant allocation of Rs 815 crores for agriculture, aiming to generate 2.88 lakh jobs. The state plans to expand horticulture, boost wool processing, and promote leather tanning to stimulate the local economy. The budget estimates for fiscal 2025-26 stand at Rs 1,12,310 crore, highlighting a focus on tourism with a projected influx of 2.36 crore tourists in 2024.

The government has earmarked Rs 390.20 crore for tourism development, with efforts to increase homestays, promote water sports, and establish Sonmarg as a winter sports hub. Infrastructure development plans include a new water park in Jammu's Sidhra and adventure offerings in Basholi. The CM stressed transparency in welfare measures, focusing on key sectors like agriculture, tourism, and local industries.

An innovative new film policy aims to position Jammu and Kashmir as a prime location for film production and ecotourism. The budget allocates substantial resources towards salaries, healthcare enhancements, and industrial estate expansion.

Amid challenges such as high administrative and technical losses, the budget maintains financial discipline with borrowing within limits. It includes Rs 5,000 crore in grants for regional development, addressing trader concerns with a new policy, and promoting local Pashmina products with GI tagging.

Healthcare access will improve with Rs 5 lakh insurance coverage for all citizens, new AIIMS institutions, and expanded dialysis services. The budget also considers public feedback, emphasizing reduced regional disparities and bolstered economic health. CM Abdullah expressed gratitude to central leaders for their continued support.