J&K Assembly budget: Oma allocates Rs 815 cr for Agriculture, Rs 390 cr for tourism development

Jammu, Mar 7: Jammu and Kashmir Chief Minister Omar Abdullah presented the state’s budget today, emphasizing that the region is on the path to lasting peace.

This marks the first budget to be presented by an elected government in the last seven years. Abdullah highlighted the state’s increased GST compliance and reaffirmed the commitment to align with the Sustainable Development Goals (SDGs).

The budget focuses on empowering youth and women, addressing regional imbalances, and working toward the restoration of statehood. A significant portion of the budget has been allocated to various sectors, including Rs 815 crore for agriculture to generate 2.88 lakh jobs.

The government aims to promote a two-crop pattern, boost horticulture, and enhance wool processing and the leather tanning industry, which will contribute to the local economy.

Tourism is another major priority, with the government projecting 2.36 crore tourists in 2024. The state has seen a rise in tourism due to events such as the Kashmir Marathon and the growing popularity of destinations like Shiv Khori and Dudh Pathri.

The budget allocates Rs 390.20 crore for tourism development, which will include increasing homestays, promoting water sports, and developing Sonmarg as a winter sports destination. Additionally, a new water park in Sidhra and an adventure tourism hub in Basholi are planned for Jammu.

Omar stressed the importance of transparency in welfare initiatives and emphasized the government’s focus on agriculture, tourism, and local industries.

A new film policy will be implemented to make Jammu and Kashmir a prime destination for film production and eco-tourism. The state will also focus on constructing 500 new Panchayat Ghars to improve local infrastructure.

Despite the challenges of high expenditure on salaries (70 percent of the budget), rising debt, and substantial ATNC losses, the government has ensured that borrowing remains within prescribed limits. The budget includes grants worth Rs 5,000 crore to boost regional development.

In the industrial sector, the budget plans the creation of 64 industrial estates and introduces a new policy offering price preferences to traders. Seven more local products, including Pashmina, will receive GI (Geographical Indication) tagging.

For healthcare, the budget provisions for two new AIIMS institutions, ten new nursing colleges, and a Rs 5 lakh health insurance coverage for every citizen. Furthermore, telemedicine services will be integrated across the state, and medical infrastructure will be strengthened with new Cath Labs, MRI machines in all government hospitals, and expanded dialysis services in district hospitals.

The Chief minister stated that the budget was designed with feedback from the public, addressing the need for reducing regional disparities and boosting overall economic health.

He also expressed gratitude to the Prime Minister, Home Minister, and Finance Minister for their continued support and cooperation in the state’s development.