The Indian government has announced a budget of Rs 41,000.07 crore for Jammu and Kashmir for the fiscal year 2025-26. This amount is similar to the revised budget of Rs 41,000.07 crore for the previous year. The budget was presented by Union Finance Minister Nirmala Sitharaman in the Lok Sabha.
The Jammu and Kashmir Police will receive Rs 9,325.73 crore, which is an increase from Rs 8,665.94 crore in 2024-25. The budget also includes Rs 40,619.30 crore to help cover the region’s financial needs. Additionally, Rs 279 crore is allocated for disaster response, and Rs 101.77 crore is set aside for capital projects.
This year’s budget is lower than the initial allocation of Rs 42,277.74 crore for 2024-25, which was later revised down. In the previous fiscal year, the budget for Jammu and Kashmir was Rs 41,751.44 crore.
Lieutenant Governor Manoj Sinha praised the budget, calling it “pragmatic.” He believes it will help boost growth and support the private sector. He thanked Prime Minister Narendra Modi for focusing on economic development and helping various groups, including the poor and youth.
Sinha also highlighted a new Income Tax exemption for those earning up to Rs 12 lakh, which he said would benefit the middle class. He mentioned that the government is focusing on improving agriculture and rural areas.
However, not everyone is happy with the budget. Kulgam MLA MY Tarigami called the allocation “disappointing.” He argued that it does not address important issues like high inflation and unemployment in Jammu and Kashmir. He expressed concern that the purchasing power of the middle class is decreasing and suggested that the government is punishing the region for its political choices in the recent assembly elections.
The Jammu and Kashmir Pradesh Congress Committee also criticized the budget, saying it ignores the needs of the region, especially the unemployed youth. Congress leader Tariq Hameed Karra claimed the budget focuses more on states like Bihar and Delhi rather than addressing the urgent issues in Jammu and Kashmir.
As the region faces high unemployment rates, local leaders are calling for more support from the central government to help improve the situation for its residents. They feel that the budget’s minor tax relief for salaried individuals is not enough to deal with the rising costs of living.
The mixed reactions to the budget show the ongoing challenges in Jammu and Kashmir, with local leaders urging the government to pay more attention to the region’s unique needs.
