Chief Minister forecasted a 9.5% growth rate for J&K economy in 2025-26, underscoring major investments in sectors such as infrastructure, tourism, agriculture, and industry.
Power Sector has been allocated 2,021.37 crore, an increase of 762.80 crore compared to the revised allocation for 2024-25.
Announcement of 200 units of free electricity for AAY households in first step.
Additional 10 kg of ration per person for AAY beneficiaries starting April 2025.
Pensions increased for over 10 lakh vulnerable individuals across Jammu and Kashmir.
For poor families, Marriage Assistance for EWS girls raised from 50,000 to 75,000.
As in Delhi, free travel for women in Jammu and Kashmir on government-owned transport, including e-buses, from April 2025.
Exemption of Stamp Duty for property transfers within blood relations.
RC Sharma Chanakya
Jammu, Mar 07: In a historic move, Chief Minister Omar Abdullah unveiled his inaugural Budget for Jammu and Kashmir, outlining a comprehensive range of people-centric policies and governance reforms aimed at transforming the region’s socio-economic landscape. Commencing his address, the Chief Minister remarked, “With utmost humility and a deep sense of responsibility, I present my first budget as the Finance Minister, marking the first budget of an elected government after seven years. This is a profound privilege, yet I am fully aware of the immense responsibility entrusted to me as the steward of Jammu and Kashmir’s financial resources during such a pivotal moment. This budget transcends mere financial planning; it is a blueprint for a flourishing and prosperous Jammu and Kashmir, one that mirrors the dreams of our people and establishes a solid base for economic expansion, societal progress, and sustainable growth.”
The budget places emphasis on social welfare, infrastructure enhancement, and financial resilience. In his speech, the Chief Minister forecasted a 9.5% growth rate for Jammu and Kashmir’s economy in 2025-26, underscoring major investments in sectors such as infrastructure, tourism, agriculture, and industry. He further discussed the government’s commitment to implementing fiscal reforms aimed at reducing dependence on central grants, improving revenue generation, and ensuring long-term financial stability. He highlighted J&K’s leadership in digital governance with over 1,166 online services available through the e-Unnat portal and a real-time grievance redress system via JK SAMADHAN and RAABITA platforms.
In a major move towards empowering the most vulnerable sections of society, the Chief Minister announced a highly anticipated scheme offering 200 units of free electricity per month to all households under the Antyodaya Anna Yojana (AAY). This initiative, aligned with the PM SuryagharBijli Yojana, will facilitate the installation of solar-powered systems, contributing to energy security for the underprivileged while eliminating electricity bills. With an investment of ?750 crore over the next five years, this step aims to reduce losses in transmission and distribution and foster the use of sustainable energy sources. The Chief Minister appealed to the Legislative Assembly for support to further this transformative initiative that promises a greener, more inclusive, and self-sufficient Jammu and Kashmir.
In addition to energy reforms, the Chief Minister emphasized the creation of Linemen huts and the provision of vital amenities for thousands of power sector workers who operate under challenging conditions. A new Training Institute will be established to enhance the skills of the technical staff within the power development department, ensuring that they are equipped with state-of-the-art technical expertise. For the fiscal year 2025-26, the Power Sector has been allocated ?2,021.37 crore, an increase of ?762.80 crore compared to the revised allocation for 2024-25.
The Chief Minister also announced a generous scheme providing 10 kg of free ration per person, per month, to all AAY beneficiaries starting April 1, 2025. This initiative aims to significantly enhance food security and nutritional support for vulnerable households. Alongside this, the government plans to roll out a Smart Public Distribution System (PDS) in 2025-26 to improve service delivery, minimize leakage, and ensure the fair and transparent distribution of essential goods across the region.
In a gesture recognizing the importance of women’s empowerment, the Chief Minister declared free public transport for women across Jammu and Kashmir, including e-Buses, starting in April 2025. Additionally, he announced an increase in Marriage Assistance for girls from economically weaker sections, raising the support from ?50,000 to ?75,000.
For vulnerable populations, pensions under the Integrated Social Assistance Scheme (ISSS) and the National Social Assistance Programme (NSAP) will see an increase. Affected individuals will now receive ?1,250 per month for those under 60, ?1,500 for those between 60 and 80, and ?2,000 for those aged 80 and above.
In a significant move to ease property transactions, the Chief Minister introduced a complete exemption on stamp duty for property transfers through gifts within blood relations, which is expected to reduce inheritance disputes and promote legal property documentation.
The budget also allocated substantial funds across several key sectors to foster development and infrastructure growth. Key allocations include: ?2,221.58 crore for Agriculture & Allied Sectors, ?3,773.93 crore for Rural Development, ?390.20 crore for Tourism, ?602.85 crore for Industries, ?1,750.50 crore for Health, ?1,388.97 crore for Education, ?152.69 crore for Sports, ?4,062.93 crore for Roads and Bridges, ?2,662.71 crore for Irrigation and Water Supply, and ?2,761.74 crore for Housing and Urban Development. These allocations aim to stimulate growth in critical areas, ensuring a comprehensive and inclusive approach to development.
For energy independence, the Chief Minister outlined an ambitious target for Jammu and Kashmir to become self-sufficient in power by 2027-28, with plans to develop 7,500 MW of new hydroelectric power and smart grid investments to guarantee round-the-clock electricity supply. Moreover, a new set of awards will be introduced to recognize exceptional efforts in reducing power losses and conducting energy audits.
The Chief Minister also provided insights into the government’s commitment to infrastructure improvement, with 4,000 km of roads set to be blacktopped in 2025-26, bolstering connectivity across the region. On the industrial front, the government is fostering the development of 46 new industrial estates, alongside measures to streamline support for MSMEs, such as providing financial assistance and introducing a new policy to promote local industries in public procurement.
In tourism, the government plans to implement new master plans for key destinations like Gulmarg, Pahalgam, and Sonamarg, along with the establishment of Jammu and Kashmir’s first National Water Sports Centre at Dal Lake and Basohli. A new water park will be developed near Sidra Golf Course in Jammu under a public-private partnership model.
The Chief Minister also unveiled Mission YUVA, a strategic initiative designed to create 1.37 lakh enterprises and 4.25 lakh jobs over the next five years through startups, MSMEs, and skill development programs. Additionally, a Skill and Entrepreneurship University will be established in Jammu and Kashmir, focusing on training youth in sectors such as technology, healthcare, renewable energy, and traditional crafts.
In the legal and infrastructure domains, the Chief Minister proposed an allocation of ?50 crore for the construction of a modern Legislative Complex in Jammu and ?50 crore for the establishment of a National Law University. An additional ?125 crore was earmarked for advancing judicial infrastructure across the region.
Finally, the Chief Minister presented a Disaster Mitigation Fund of ?39 crore for addressing flood and landslide protection, alongside the implementation of GLOF (Glacial Lake Outburst Flood) monitoring systems to bolster the region’s climate resilience.
Concluding his address, the Chief Minister presented the 2025-26 Budget for the consideration of the Legislative Assembly, emphasizing its transformative potential for Jammu and Kashmir’s future.
