Srinagar- Continuing his engagement with various stakeholders, Chief Minister Omar Abdullah Tuesday chaired a pre-budget consultation meeting here at the Civil Secretariat.
The session focused on understanding the perspectives of representative bodies from various sectors ahead of the upcoming Budget Session of the J&K Assembly.
Advisor to the Chief Minister Nasir Aslam Wani, Chief Secretary Atal Dulloo, Additional Chief Secretary Higher Education Shantamanu, Additional Chief Secretary to the CM Dheeraj Gupta, Principal Secretary Finance Santosh D Vaidya, Commissioner Secretary Industries & Commerce, Commissioner Secretary Youth Services & Sports along with heads of departments and senior officers from various departments, attended the meeting both in person and virtually.
During the discussions, stakeholders from diverse sectors including industrialists, traders, hoteliers, travel & tour operators, tourism players, educationists, sportspersons, agriculturists, horticulturists, entrepreneurs and representatives of industry & trade bodies like FCIK, KCCI, CII, PHD Chamber shared their inputs and suggestions for the upcoming Jammu and Kashmir Budget 2025-26.
During the deliberations, key demands were projected by stakeholders pertaining to framing of one consolidated industrial policy, upgradation of Industrial estates, connecting IGC Lassipora with National Highway, power amnesty to industrial units, crop insurance for horticulture produce, conservation of wetlands, incentivizing cherry, walnut & apricot plantation, PPP model in health sector, preservation of houseboats, free hold rights to industrial units, setting up of multi-disciplinary institutions, higher education clusters, autonomous degree colleges, establishing skill development university, creating parking lots in downtown Srinagar and other towns, decongestion of tourist places, solid waste management in tourist resorts, maintenance of stadiums & playgrounds, setting up of sports academies and increase in promotion & publicity budget for tourism.
Addressing the participants, Chief Minister Omar Abdullah emphasized that these consultations have become a key part of this government’s pre-budget exercise, aimed at gathering insights from multiple sectors to shape effective policies and allocate resources efficiently.
The Chief Minister patiently listened to all stakeholders, underscoring the importance of these discussions in addressing economic challenges and promoting growth. He reiterated the government’s commitment to presenting a budget that aligns with public needs and aspirations.
To ensure a people-centric budget, the Chief Minister noted that extensive pre-budget consultations have been conducted. So far, he has engaged with public representatives, including Chairpersons of District Development Councils (DDCs) and Members of the Legislative Assembly (MLAs) from ten districts—Anantnag, Baramulla, Budgam, Pulwama and Kulgam in Kashmir division and Udhampur, Ramban, Kathua, Reasi and Samba in Jammu division.
Additionally, consultation meetings have already been held with various stakeholders from Jammu, including representatives from industry & trade, tourism, hotel & hospitality, education, social welfare, tribal affairs, youth affairs, and agriculture sectors.
FCIK Submits Pre-Budget Proposals for Industrial Growth
The Federation of Chambers of Industries Kashmir (FCIK) has warmly welcomed the crucial infrastructure and institutional support for the manufacturing sector, recognizing its potential to drive employment and strengthen the supply chain ecosystem.
In response to the Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, the Valley’s leading industrial body emphasized the significance of the initiatives proposed by the Union government, including accomplishing the vision under the “National Manufacturing Mission” to support manufacturing industries of all sizes.
“We are pleased that the Finance Minister has recognized MSMEs as the second engine for economic growth and a cornerstone of the Indian economy, with specific provisions aimed at enhancing their scalability, technological up-gradation, and access to capital,” stated the Advisory Committee of FCIK, led by Shahid Kamili, after reviewing the budget provisions.
The committee noted that the recognition of MSMEs, given their 30% contribution to India’s GDP, nearly 45% of the country’s exports, and employment of around 80 million people nationwide, is highly encouraging. For the first time in years, these enterprises have received a significant boost, with a series of measures aimed at supporting their growth and long-term sustainability.
“The enhanced credit guarantee cover for MSMEs, now increased to Rs 10 crore, along with various credit schemes for the MSME sector and startups, including a dedicated Rs 10,000 crore ‘Fund of Funds’, will be crucial for advancing financial inclusion,” said FCIK.
“The introduction of the MSE Credit Card, designed to provide easier access to credit for micro manufacturing units, particularly in rural areas, has the potential to be a game-changer. If implemented smoothly, this initiative could significantly uplift small and micro enterprises, ensuring they have the financial support needed to grow and innovate,” the chamber added.
Additionally, DPI-enabled export financing and term loans of up to Rs 20 crore for well-managed export-oriented MSMEs will empower businesses to expand into international markets, benefiting export houses in J&K as well.
“Furthermore, the introduction of a new scheme aimed at empowering 5 lakh women, SC/ST first-time entrepreneurs with loans up to Rs 2 crore is a transformative step towards promoting inclusive entrepreneurship,” the chamber noted.
Follow this link to join our WhatsApp group: Join Now
Be Part of Quality Journalism |
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast. |
| ACT NOW |
| MONTHLY | Rs 100 |  |
| YEARLY | Rs 1000 | |
| LIFETIME | Rs 10000 | |
