Omar Abdullah Unveils ₹1.12 Lakh Crore J&K Budget, Prioritizes Welfare, Energy & Education

Jammu, Mar 7 :Chief Minister Omar Abdullah, acting as Finance Minister, unveiled a comprehensive ₹1.12 lakh crore budget for Jammu & Kashmir for the fiscal year 2025-26 during a legislative assembly session on Friday, emphasizing social welfare, sustainable energy, and educational reforms. Abdullah on the eve outlined a fiscal roadmap aimed at bridging socio-economic gaps while bolstering infrastructure and public services.

The budget, with total net estimates of ₹1,12,310 crore, as per news agency Kashmir Bulletin, includes provisions for revenue and capital expenditures. Revenue receipts are projected at ₹97,982 crore, supported by the Union Territory’s own tax and non-tax revenue of ₹31,905 crore. Central assistance accounts for ₹41,000 crore in grants, supplemented by ₹13,522 crore from centrally sponsored schemes and the Prime Minister’s Development Package (PMDP).

In a major push for food security, 10 kg of free ration per person monthly will be provided to all Antyodaya Anna Yojana (AAY) families starting April 2025. Additionally, pensions for vulnerable groups, including the elderly, widows, divorcees, and differently-abled individuals, have been revised. Beneficiaries below 60 years will receive ₹1,250 monthly, while those aged 60–79 and 80+ will get ₹1,500 and ₹2,000, respectively.

Financial aid under the Marriage Assistance Scheme for AAY category girls has also been raised from ₹50,000 to ₹75,000.

To alleviate energy costs, AAY households will receive 200 units of free electricity monthly, integrated with the PM Surya Ghar Bijli Yojana. A ₹750 crore investment will fund grid-connected solar systems to eliminate electricity bills and reduce technical losses. “This initiative promotes sustainable energy while easing financial burdens on families,” Abdullah stated.

Beginning April 2025, women across J&K will enjoy free rides on government-owned buses, including e-buses, to enhance mobility and safety.

In a bid to simplify property transfers, stamp duty on assets gifted to blood relatives has been scrapped entirely, the Finance Minister announced.

The budget earmarks funds for establishing a National Law University and the Jammu & Kashmir Skill and Entrepreneurship University, aiming to expand access to legal education and vocational training. Omar stressed the need to align J&K’s workforce with emerging economic opportunities through skill development.

The incumbent Financial Minister highlighted the budget’s focus on leveraging central schemes and sustainable investments to drive growth. “Our estimates balance fiscal responsibility with inclusive development,” he said, underscoring efforts to curb deficits while prioritizing welfare. (KB)