Omar meets Sitharaman ahead of union budget presentation

Srinagar, Jan 07: Jammu and Kashmir Chief Minister Omar Abdullah on Tuesday met with Union Finance Minister Nirmala Sitharaman in New Delhi as part of the pre-Budget consultations ahead of the Union Budget presentation scheduled for February 1.
The meeting, held at the Finance Minister’s North Block office, lasted over half an hour and was described as cordial by reliable sources.
This is the second interaction between Abdullah and Sitharaman in recent months, following a prior meeting in November 2024.
Omar was also part of Pre Budget meeting and GST council held in Rajasthan in December last year.
During their November meeting, Chief Minister Abdullah sought support from the Union Finance Ministry for additional central assistance and multi-lateral funding to boost J&K’s economic development. He advocated for multi-lateral funding to develop new tourism destinations in the UT to decongest existing locations and establish world-class infrastructure at newly identified sites.
Abdullah had also expressed gratitude for the approval of the Competitiveness Improvement of Agriculture & Allied Sectors Project (JKCIP), which entails financing of $100 million through the International Fund for Agriculture Development (IFAD) over the next seven years to rejuvenate the agriculture sector.
In the November discussions, Abdullah also requested that J&K be treated on par with North Eastern States concerning incentives for Externally Aided Project (EAP) loans and eligibility for special lending arrangements under EAP loans.
He further urged consideration for funding through the “Special Assistance to States for Capital Investment” scheme, which provides 50-year interest-free loans for capital expenditure.
Highlighting the challenging fiscal situation faced by J&K, the Chief Minister requested additional central assistance of ₹6,000 crore to bridge the resource gap in the Union Territory’s budget for the fiscal year 2024-25.