Srinagar: The Chamber of Commerce and Industries Kashmir (CCIK) has welcomed the Jammu and Kashmir Budget 2026–27, describing it as progressive and fiscally stable despite limited funding availability, and said it reflects a balanced and reform-oriented approach to governance.
Reacting to the Budget, CCIK President Tariq Ghani said the government has demonstrated fiscal prudence and strategic prioritisation while addressing development needs amid economic constraints, security challenges and recent natural calamities.
Ghani appreciated the emphasis on capital expenditure, infrastructure creation and governance reforms, particularly the inclusion of Jammu and Kashmir under the Special Assistance to States for Capital Investment (SASCI) scheme, which provides long-term, interest-free funding for infrastructure development and disaster mitigation. He said sustained investment in power, roads, health, education, agriculture, tourism, skilling and employment generation would help stabilise the economy and create long-term growth opportunities across the Union Territory.
Referring to the industrial and MSME sectors, Ghani said the Budget acknowledges the industrial gains achieved in recent years, including increased investments, job creation, startup growth and improved Ease of Doing Business rankings. He welcomed the proposed amendments to the J&K Industrial Policy 2021–30 aimed at sustaining industrial growth beyond the National Central Sector Scheme (NCSS), but stressed the need for a robust, clearly defined and forward-looking industrial policy that supports both existing and new industries.
“The Budget is progressive and stable despite limited fiscal space, but industry expects a strong new industrial policy for both existing and new units, at par with the incentives, certainty and long-term support offered under the NCSS scheme. Existing industries require structured turnover-linked incentives, rationalisation of power costs, logistics support and policy continuity to remain competitive and expand operations,” Ghani said.
He said a strong and competitive industrial ecosystem is critical for employment generation, youth engagement and balanced regional development. Ghani welcomed enhanced allocations for power development, physical connectivity, Mission YUVA, skilling initiatives, tourism diversification and MSME support, noting that these sectors together can create a multiplier effect for economic revival.
Expressing optimism, Ghani said that with effective execution and the timely announcement of an industry-friendly industrial framework, Jammu and Kashmir can emerge as a preferred investment destination and a model of sustainable and inclusive economic growth.
Ghani also placed on record appreciation for the Chief Secretary, Finance Secretary and administrative secretaries and officers involved in the preparation of the Budget, acknowledging their efforts in framing a realistic, reform-oriented and development-focused fiscal roadmap under challenging circumstances. He said continued coordination between the government and stakeholders would be essential to translate budgetary intent into tangible outcomes on the ground.
The Chamber of Commerce and Industries Kashmir reaffirmed its commitment to working closely with the government to support policy formulation, facilitate investments and ensure that economic growth results in employment, resilience and prosperity for the people of Jammu and Kashmir.
