Ziraat Times Team Report
New Delhi: Jammu and Kashmir Chief Minister Omar Abdullah on Saturday highlighted the Union Territory’s fiscal priorities and development needs during the pre-Budget consultations chaired by Union Finance Minister Nirmala Sitharaman ahead of the Union Budget 2026–27.
Participating in the meeting with States and Union Territories with legislatures, Omar Abdullah underlined the importance of sustained central support to address J&K’s unique fiscal challenges and accelerate infrastructure-led growth. He stressed the need for continued and enhanced capital investment to support economic recovery, job creation and long-term development in the Union Territory.
A key focus of the discussions was the Scheme for Special Assistance to States for Capital Investment (SASCI), which J&K, along with several other States and UTs, supported strongly. Participants noted that the scheme has played a crucial role in fast-tracking asset creation and strengthening capital expenditure. Since 2020–21, the Union government has released over ₹4.25 lakh crore as 50-year interest-free loans to States under SASCI.
The meeting was attended by Union Minister of State for Finance Pankaj Chaudhary, the Governor of Manipur, Chief Ministers of Delhi, Goa, Haryana, Meghalaya and Sikkim, and the Deputy Chief Ministers of Arunachal Pradesh, Madhya Pradesh, Odisha, Rajasthan and Telangana. Senior Finance Ministers and officials from States and UTs, along with Secretaries from the Departments of Economic Affairs, Expenditure and Revenue, were also present.
The pre-Budget consultation provided a platform for States and UTs to place their sectoral priorities and fiscal concerns before the Centre. Union Finance Minister Nirmala Sitharaman thanked the participants and assured them that their suggestions, including those raised by Jammu and Kashmir, would be carefully examined while finalising the Union Budget for 2026–27.
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