Rahul Sahai, Chairman, ICC Jammu terms Omar Abdullah’s Budget as Balanced and Progressive

Rahul Sahai, Chairman of the Indian Chamber of Commerce (ICC) Jammu Chapter, has lauded the budget presented by Hon’ble Chief Minister and Finance Minister Jenab Omar Abdullah, calling it a well-balanced and growth-oriented financial plan that will accelerate the prosperity of Jammu & Kashmir. Sahai who attended the hon’ble Cm’s budget presentation in J&K assembly in the gallery in a statement said “The  budget reflects a strong commitment to industrial growth, tourism development, youth empowerment, and infrastructure expansion while ensuring inclusive economic progress”.

Rahul Sahai appreciated the government’s vision in promoting tourism by announcing key projects such as the development of Ranjit Sagar Lake, the construction of a water park at Sidhra, the expansion of Jamboo Zoo, and the establishment of a state-of-the-art Convention Centre at Sidhra. These initiatives will enhance J&K’s tourism potential , Specially Jammu’s tourism circuit  and create employment opportunities for the youth.

Sahai while welcoming a major boost to the MSME sector said that the budget proposes a ₹50 crore allocation for an incubation centre, price preference for J&K-based MSMEs on the GeM portal, and the expansion of the CGTMSE scheme under the RAMP initiative, which will significantly benefit small businesses. The proposal to develop a PM Unity Mall in Jammu for crafts and handicrafts is a welcome step that will empower local artisans and promote “Brand J&K” on a national and global level.

The budget also takes a strong stance on industrial development, with a ₹625 crore allocation to support new industries and infrastructure expansion in 64 industrial estates, with 46 more under development. The focus on streamlining SGST reimbursements, turnover incentives, and promoting sectors such as IT, renewable energy, and biotechnology will further strengthen the investment climate in the region. Mr. Sahai particularly welcomed the decision to constitute an Advisory Committee on Industry and Tourism, ensuring continuous dialogue between the government and stakeholders.

Education and skill development have been given due priority, with an ambitious plan to upgrade 40 high schools, establish 100 smart schools, and launch a ₹5 crore apprenticeship program to bridge the industry-academia gap. The proposal to establish a Skill and Entrepreneurship University is a commendable step toward fostering innovation and self-employment among the youth.

The healthcare sector has received a significant boost, with a doubling of the medical budget, the introduction of a Hi-Tech AI-based SEHAT App for tele-medical services, and an allocation for 100 AI-powered X-ray machines to combat TB. The government’s commitment to expedite work on the Homeopathy Medical College in Kathua, expand MBBS seats, and introduce a Healthcare Investment Policy reflects a holistic approach to strengthening healthcare services.

The sports sector has also been given a strong thrust, with the establishment of Khelo India Centres in Jammu and Srinagar, the creation of a National Training Centre for water sports in Basoli, and dedicated efforts to promote football across J&K. The government’s focus on upgrading 247 playfields and 19 sports buildings will provide world-class sporting facilities for youth development.

In a move towards social welfare and inclusivity, the budget has introduced free transport for women in government buses, including e-buses, and increased the girl marriage incentive from ₹50,000 to ₹75,000, a commendable step for women empowerment. The announcement of a new hydropower policy to reduce J&K’s revenue deficit, the reduction of stamp duty on property transfers within blood relatives is a commendable decision, and an allocation of ₹100 crore for the leather industry in Kashmir are pragmatic decisions that will spur economic activity and generate employment.

Rahul Sahai also welcomed the decision to allocate ₹625 crore for industrial development and appreciated the government’s commitment to sustainable development by declaring 2025 as the “J&K Green Mission Year.” He further lauded initiatives such as the PM Rural Home Scheme, a new mining surveillance system, and ₹10 crore for the construction of new helipads to improve connectivity.

“This budget lays a strong foundation for Jammu & Kashmir’s economic transformation, ensuring industrial growth, infrastructure development, and social welfare. The focus on MSMEs, tourism, healthcare, education, and sports reflects a comprehensive approach to inclusive development. I appreciate the government’s efforts in making policy interventions that will significantly enhance the ease of doing business in J&K. The Indian Chamber of Commerce Jammu looks forward to working closely with the government to implement these initiatives for the benefit of the people of J&K,” said Rahul Sahai.