Yogesh
Srinagar, Jan 30: As the forthcoming 2025-26 budget session is set to commence from March 3 this year, the million dollar question remains that whether the Omar Abdullah led dispensation will fulfill its poll-pledges- topping among them is 200 units of free electricity and creation of more than three lac government jobs for the youth here.
As per the inputs received, Chief Minister Omar Abdullah is expected to hold discussions with key stakeholders, while the government is set to prioritize electoral guarantees in the upcoming budget.
According to official sources, the budget session of the Jammu and Kashmir Assembly is proposed to commence on March 3- the first annual budget presentation for the region in six years.
A proposal to convene the session was recently approved in a cabinet meeting and sent to Lieutenant Governor Manoj Sinha. The final duration of the session will be determined by Assembly Speaker Abdul Rahim Rather, following consultations with the Business Advisory Committee.
For the first time as Finance Minister, Chief Minister Omar Abdullah will present the state budget in the assembly.
During his previous tenure as Chief Minister, Abdullah oversaw the Home, General Administration, and other departments but had not directly handled finance. The budget must be approved before March 31, and while Union Territories typically have shorter budget sessions than states, this session may extend for several weeks.
Currently, the Jammu and Kashmir government consists of six ministers, including the Chief Minister. The Business Advisory Committee will decide on time allocations for key legislative activities, including: Debate on the motion of thanks to the Lieutenant Governor’s address, discussions on budgets and grants of various ministries, debates on private members’ resolutions and bills and other government business
The last budget for Jammu and Kashmir as a state was presented in January 2018 by then Finance Minister Dr. Haseeb Drabu, amounting to Rs 80,313 crore for FY 2018-19. However, following the dissolution of the assembly in June 2018, the State Administrative Council (SAC) adopted a budget of Rs 88,911 crore for FY 2019-20. From 2020-21 to 2024-25, budgets were presented and passed in Parliament in the absence of an elected assembly. The 2024-25 budget, passed by Parliament, stood at Rs 1,18,728 crore, a slight increase from the Rs 1,18,500 crore budget of 2023-24.
The Omar Abdullah-led government is expected to focus on fulfilling key electoral promises, including 200 units of free electricity for eligible households, Rs 5,000 per month for economically weaker women, 12 free LPG cylinders per year, Expanded ration distribution, Job creation (3 lakh government jobs), Boosting agriculture and horticulture, Promoting tourism and industrial growth.
These guarantees are likely to be key priorities in the budget, and the NC led dispensation will ensure their inclusion in government expenditure plans.
According to sources, Chief Minister Omar Abdullah has requested a ₹20,000 crore special package from the Union Government in a recent meeting with the Union Finance Minister and other central ministers. If approved, this package may be included under a specific budget component.
Additionally, the Jammu and Kashmir Finance Department has instructed Administrative Secretaries to cut down on unnecessary expenses while preparing budget proposals. This move aims to curb wasteful government spending and promote fiscal discipline.
