‘Balanced and progressive’ – ICC Jammu Chapter hails J&K Budget 2025-26

7 March 2025

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Jammu: Rahul Sahai, Chairman of the Indian Chamber of Commerce (ICC) Jammu Chapter, has termed the budget presented by Chief Minister and Finance Minister Omar Abdullah as a balanced and growth-oriented financial plan that will accelerate Jammu & Kashmir’s prosperity. Attending the budget presentation at the J&K Assembly, Sahai stated, “The budget reflects a strong commitment to industrial growth, tourism development, youth empowerment, and infrastructure expansion while ensuring inclusive economic progress.”

Sahai lauded the government’s focus on promoting tourism through key projects such as the development of Ranjit Sagar Lake, a water park at Sidhra, the expansion of Jamboo Zoo, and a state-of-the-art Convention Centre at Sidhra. These initiatives, he noted, will strengthen Jammu’s tourism circuit and create employment opportunities for the youth.

Welcoming a major boost to the MSME sector, Sahai highlighted the ₹50 crore allocation for an incubation centre, the introduction of price preference for J&K-based MSMEs on the GeM portal, and the expansion of the CGTMSE scheme under the RAMP initiative. He also praised the government’s move to develop a PM Unity Mall in Jammu to empower artisans and promote “Brand J&K” on national and global platforms.

The budget further prioritizes industrial development with ₹625 crore allocated for new industries and infrastructure expansion across 64 industrial estates, with 46 more under development. Sahai welcomed the streamlining of SGST reimbursements, turnover incentives, and promotion of IT, renewable energy, and biotechnology sectors to enhance J&K’s investment climate. He also appreciated the formation of an Advisory Committee on Industry and Tourism to foster continuous dialogue between the government and stakeholders.

Recognizing the emphasis on education, Sahai praised the government’s plan to upgrade 40 high schools, establish 100 smart schools, and introduce a ₹5 crore apprenticeship program to bridge the industry-academia gap. The proposal to establish a Skill and Entrepreneurship University was termed a game-changer for fostering innovation and self-employment.

The healthcare sector received a significant boost, with a doubling of the medical budget, the introduction of a Hi-Tech AI-based SEHAT App for tele-medical services, and an allocation for 100 AI-powered X-ray machines to combat TB. Sahai noted the government’s commitment to expanding MBBS seats, expediting work on the Homeopathy Medical College in Kathua, and introducing a Healthcare Investment Policy as vital steps toward strengthening medical services in J&K.

The budget also prioritizes sports, with the establishment of Khelo India Centres in Jammu and Srinagar, a National Training Centre for water sports in Basoli, and efforts to promote football across J&K. Additionally, the government’s plan to upgrade 247 playfields and 19 sports buildings will provide world-class facilities for youth development.

In a progressive move, the budget introduces free transport for women in government buses, including e-buses, and increases the girl marriage incentive from ₹50,000 to ₹75,000. Sahai also welcomed the reduction of stamp duty on property transfers within blood relatives and a ₹100 crore allocation for the leather industry in Kashmir.

Commending the government’s focus on sustainability, Sahai highlighted the declaration of 2025 as “J&K Green Mission Year” and initiatives such as the PM Rural Home Scheme, a new mining surveillance system, and ₹10 crore for helipads to improve connectivity.

“This budget lays a strong foundation for Jammu & Kashmir’s economic transformation, ensuring industrial growth, infrastructure development, and social welfare. The focus on MSMEs, tourism, healthcare, education, and sports reflects a comprehensive approach to inclusive development. The Indian Chamber of Commerce Jammu looks forward to working closely with the government to implement these initiatives for the benefit of the people of J&K,” said Rahul Sahai.