Excelsior Correspondent
JAMMU, Feb 7: Jammu and Kashmir Budget 2026-27 presented by Chief Minister Omar Abdullah in the Legislative Assembly has evoked sharply divided reactions from industry bodies and political parties, reflecting contrasting assessments of its welfare orientation, economic priorities and governance approach.
Arun Gupta, President, Chamber of Commerce & Industry, welcomed the budget as people-friendly and inclusive, appreciating its focus on education, healthcare, tourism, sports, IT and social welfare. He lauded proposals such as emergency hospitals at Uri and Poonch, free education, milk processing plants, Unity Malls, water sports facilities at Wullar-Manasbal and Bani-Basoli, and the Water Park at Jagti Nagrota. However, Gupta expressed disappointment over the absence of specific budgetary support for existing industrial units, warning that the expiry of turnover incentives and interest subsidies in March 2026 could worsen financial stress. He sought clarity on the implementation timeline of the Industrial Policy, while welcoming incentives for sick MSMEs and simplified approvals for new enterprises.
The PHDCCI, Kashmir Chapter, commended the Chief Minister for presenting a balanced and forward-looking budget despite severe fiscal constraints. Chairman Vicky Shaw said the budget judiciously prioritises capital investment and long-term reforms while addressing challenges arising from floods and security incidents. The Chamber welcomed announcements on IT and AI, including IT/ITES Parks in Jammu and Srinagar and a Rs 20 crore Centre of Excellence in AI, calling them transformative for employment and innovation. It also appreciated enhanced support for handicrafts, agriculture, horticulture, education and skill development. While noting that not all industry demands were met, PHDCCI said the budget signals a positive intent towards ease of doing business, MSME support and sustainable growth.
Senior BJP leader and former Health Minister Bali Bhagat strongly criticized the budget, terming it a document of recycled schemes and unfulfilled promises. He alleged that the Rs 1.13 lakh crore budget lacks vision and fails to address unemployment, youth insecurity and daily wager issues. Bhagat said there was no concrete employment roadmap, recruitment calendar or policy innovation, accusing the Government of repackaging centrally sponsored schemes. He also criticized vague assurances to academic arrangement employees, contractual staff and daily wagers, and questioned the dilution of the free electricity promise. Bhagat warned that rising borrowings and weak capital investment could burden future generations.
BJP Professional Cell, J&K Unit, described the budget as directionless, anti-people and anti-poor. Convenor Deepak Kapahi said the financial document fails to address the core needs of residents and betrays pre-election promises made by the ruling party. The Cell alleged a disconnect between political rhetoric and policy delivery, asserting that the budget lacks clarity, structural reform and credible implementation mechanisms to revive the economy and ensure inclusive development.
BSP expressed strong dissatisfaction, stating that the budget lacks targeted provisions for Scheduled Castes, Scheduled Tribes, OBCs, nomadic tribes and other vulnerable communities. The party criticized the absence of Special Component Plans or earmarked allocations for these sections, calling it a violation of constitutional principles of social justice. BSP said general welfare schemes cannot replace focused interventions in education, employment, housing and livelihoods. It demanded immediate corrective measures, including a dedicated SC/ST/OBC budget, targeted skill development and employment schemes, and a transparent monitoring mechanism to ensure equitable development across J&K.
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