J&K Budget: Omar Abdullah’s Vision for a Prosperous Union Territory
Jammu and Kashmir Chief Minister Omar Abdullah recently unveiled the Union Territory’s first budget, outlining a comprehensive plan to empower youth and women, address regional disparities, and pave the way for the restoration of statehood. In a landmark moment, this budget signifies a significant step forward for the region, marking the first budget presented by the elected government in the past seven years.
Abdullah’s budget speech emphasized the core principles of inclusive growth, fiscal prudence, and strategic investments across key sectors such as infrastructure, agriculture, industry, healthcare, education, and digital governance. The overarching goal is to bridge regional disparities, empower marginalized populations, and create a conducive environment for business development and innovation.
Empowering Agriculture and Industries
One of the standout allocations in the budget is the substantial investment of ₹815 crore towards agriculture, with a specific focus on horticulture, promoting a two-crop pattern, and boosting the wool processing and leather tanning industry. Abdullah highlighted the aim to double value addition, achieve an 11% growth rate, create 2.88 lakh jobs, and establish 19,000 enterprises within the sector by 2024-25.
In addition to agriculture, tourism development emerged as a key priority, with ₹390.20 crore earmarked for this sector. The government plans to enhance homestays, promote water sports, and transform Sonmarg into a winter sports destination. Exciting developments are also in store for Jammu, including the establishment of a new water park in Sidhra and the transformation of Basholi into an adventure destination.
Empowering Women and Enhancing Social Welfare
The budget also includes provisions for social welfare programs, such as the Marriage Assistance Scheme, where the grant has been increased from ₹50,000 to ₹75,000 to support married couples. Under the Lakhpati Didi Scheme, the government will extend assistance to 40,000 women, underscoring its commitment to empowering women and promoting financial independence.
Moreover, Abdullah announced a significant initiative to provide 200 units of free electricity to all Antyodaya Anna Yojana (AAY) families in Jammu and Kashmir, demonstrating a tangible effort to address energy poverty and improve living standards for vulnerable households. Additionally, plans are underway to establish 98 water testing labs across the region to ensure safe and clean drinking water for all residents.
In a progressive move to support press freedom, the chief minister pledged to enhance journalist rights and bolster press infrastructure in Jammu and Kashmir. He also proposed a zero stamp duty on property transfers to blood relatives, facilitating smoother transactions within families.
As Abdullah aptly stated, “This Budget is more than just a financial statement—it is a roadmap for a new and prosperous Jammu and Kashmir.” With a clear vision and strategic investments across various sectors, the budget sets the stage for economic growth, social progress, and sustainable development in the Union Territory.
This comprehensive budget not only reflects the aspirations of the people of Jammu and Kashmir but also lays a strong foundation for a brighter future for all residents. With a focus on inclusive growth, empowerment, and innovation, Abdullah’s budget signals a new chapter in the region’s journey towards prosperity and development.
