Jammu, mar 07: Rahul Sahai, Chairman of the Indian Chamber of Commerce (ICC) Jammu Chapter, has lauded the budget presented by the Chief Minister and Finance Minister Jenab Omar Abdullah, calling it a well-balanced and growth-oriented financial plan that will accelerate the prosperity of Jammu & Kashmir. Sahai who attended the hon’ble Cm’s budget presentation in J&K assembly in the gallery in a statement said “The budget reflects a strong commitment to industrial growth, tourism development, youth empowerment, and infrastructure expansion while ensuring inclusive economic progress”.
Rahul Sahai appreciated the government’s vision in promoting tourism by announcing key projects such as the development of Ranjit Sagar Lake, the construction of a water park at Sidhra, the expansion of Jamboo Zoo, and the establishment of a state-of-the-art Convention Centre at Sidhra. These initiatives will enhance J&K’s tourism potential , Specially Jammu’s tourism circuit and create employment opportunities for the youth.
Sahai while welcoming a major boost to the MSME sector said that the budget proposes a ₹50 crore allocation for an incubation centre, price preference for J&K-based MSMEs on the GeM portal, and the expansion of the CGTMSE scheme under the RAMP initiative, which will significantly benefit small businesses. The proposal to develop a PM Unity Mall in Jammu for crafts and handicrafts is a welcome step that will empower local artisans and promote “Brand J&K” on a national and global level.
The budget also takes a strong stance on industrial development, with a Rs 625 crore allocation to support new industries and infrastructure expansion in 64 industrial estates, with 46 more under development. The focus on streamlining SGST reimbursements, turnover incentives, and promoting sectors such as IT, renewable energy, and biotechnology will further strengthen the investment climate in the region.
Education and skill development have been given due priority, with an ambitious plan to upgrade 40 high schools, establish 100 smart schools, and launch a Rs 5 crore apprenticeship program to bridge the industry-academia gap.
The sports sector has also been given a strong thrust, with the establishment of Khelo India Centres in Jammu and Srinagar, the creation of a National Training Centre for water sports in Basoli, and dedicated efforts to promote football across J&K.
In a move towards social welfare and inclusivity, the budget has introduced free transport for women in government buses, including e-buses, and increased the girl marriage incentive from ₹50,000 to ₹75,000, a commendable step for women empowerment. The announcement of a new hydropower policy to reduce J&K’s revenue deficit, the reduction of stamp duty on property transfers within blood relatives is a commendable decision, and an allocation of ₹100 crore for the leather industry in Kashmir are pragmatic decisions that will spur economic activity and generate employment.
