J&K Rs 1.12L-cr Budget, With Spl Focus On Inclusive Growth

Jammu: Chief Minister Omar Abdullah on Friday presented a zero-deficit budget in the Jammu and Kashmir assembly, announcing an outlay of Rs1.12 lakh crore for 2025-2026 and emphasising multi-sector welfare and development of the Union Territory.

Abdullah, who also holds the finance portfolio in the National Conference-led government, presented his maiden budget in the legislative assembly. Jammu and Kashmir, which was accorded the Union Territory status after Ladakh was carved out as a separate UT in 2019 following the abrogation of Article 370, has witnessed its first annual budget since 2018 when the erstwhile PDP-BJP government tabled the then state’s document of annual finances.

Amid thunderous applause, Abdullah began his speech with a Persian couplet and said, “I stand before you today to present my first budget as Finance Minister, marking the first budget of a collective government in seven years.

While it is an honour, I am acutely aware of the weight of responsibility that comes with being the custodian of J&K’s finances at this crucial juncture.” He said that it is a road map for a new and prosperous J&K, reflecting the aspirations of our people and laying a strong foundation for economic growth, social progress and sustainable development.

“The total net budget estimates for fiscal 2025-26 are Rs1,12,310 crore, excluding provisions for ways and means advances and overdrafts,” Abdullah said.