J&K Budget: CM Omar Abdullah Allocates ₹815 Cr for Agriculture, ₹390 Cr for Tourism.

Jammu and Kashmir Chief Minister Omar Abdullah presented the state’s budget reently, emphasizing economic growth, regional development, and the path to lasting peace. This marks the first budget presented by an elected government in the region in seven years.

The budget prioritizes youth empowerment, women’s welfare, and addressing regional disparities, with a major push toward agriculture and tourism. A total of ₹815 crore has been allocated to agriculture, aiming to generate 2.88 lakh jobs. The government will promote a two-crop farming pattern, expand horticulture, and boost wool processing and the leather tanning industry to strengthen the local economy.

Tourism remains a key focus, with a projected 2.36 crore visitors expected in 2024. The budget earmarks ₹390.20 crore for tourism development, including plans to expand homestays, promote water sports, and develop Sonmarg into a winter sports hub. Jammu will see a new water park in Sidhra, while Basholi is set to become an adventure tourism destination. Events like the Kashmir Marathon, which drew 1,800 global participants, and the rising popularity of destinations such as Shiv Khori and Dudh Pathri are contributing to the tourism boom.

The government is also rolling out a new film policy to establish J&K as a prime destination for film production and eco-tourism. Additionally, plans include the construction of 500 new Panchayat Ghars to enhance local governance infrastructure.

Despite these initiatives, the budget highlights financial challenges, with 70% of funds allocated to salaries, putting pressure on state finances. High administrative and non-commercial losses have contributed to rising debt, but borrowing remains within prescribed limits to ensure fiscal discipline. A total of ₹5,000 crore in grants has been set aside to drive economic growth.

The budget also includes plans to establish 64 industrial estates and introduce a new policy to support local traders with price preferences. Seven additional local products, including Pashmina, are set to receive Geographical Indication (GI) tagging to boost their market value.

In the healthcare sector, the budget provisions two new AIIMS institutions and ten fully-equipped nursing colleges. It also introduces a ₹5 lakh health insurance scheme for all citizens and integrates telemedicine services across the state. To enhance medical infrastructure, three new Cath Labs will be established, MRI machines will be installed in all government hospitals, and dialysis services will be expanded to all district hospitals.

Abdullah emphasized that the budget was shaped by public feedback to address regional disparities and improve economic stability. He also expressed gratitude to the Prime Minister, Home Minister, and Finance Minister for their support in J&K’s development journey.

HBL