Chief Minister Omar Abdullah has started wide-ranging consultations on the forthcoming budget. Omar, who also holds a finance portfolio, met legislators, trade bodies, tourism stakeholders, educationists, agriculturists, horticulturists, entrepreneurs, and other public representatives. These interactions are aimed at collecting feedback from diverse sectors to help shape policies and ensure effective allocation of resources. The pre-budget consultations play a crucial role in addressing key economic challenges and promoting inclusive growth. The suggestions received during these consultations would help in formulating a pragmatic budget framework. The government has assured that the inputs would be carefully examined and, wherever feasible, incorporated in the budget. Jammu and Kashmir saw many upheavals in 2025. The year started on a high note as Kashmir hosted a record number of tourists. Come April 22, everything came crashing down. A terror attack in Pahalgam left Kashmir reeling. Twenty-six people, most of them tourists, were brutally gunned down in Baisaran Valley. Before April 22, the valley was bursting at the seams with tourists. Over 5.25 lakh tourists had visited the valley in the first three months of 2025. These include 5,14,845 domestic and 10,427 foreign tourists. A record 2.35 crore tourists visited Jammu and Kashmir in 2024. Domestic tourist numbers shot up tenfold, from 25.19 lakh in 2020 to 2.35 crore in 2024. Even before people could recover from the terror attack, floods wreaked havoc on Jammu and Kashmir. Roads, infrastructure, agriculture, houses, etc. suffered huge damage. Jammu division suffered the most. Over 150 people were killed, and 178 others were injured in the Jammu division alone. Around 33 people are still missing, with Kishtwar recording the highest casualties. More than 4,200 homes were fully damaged, and over 8,600 were partially damaged. Udhampur and Jammu were the worst hit. Livestock losses stood at 1,455, and crops over 1,300 hectares were damaged. The prolonged highway closure caused huge financial losses to apple farmers. Now, fruit growers have submitted a memorandum seeking adequate budgetary allocation to compensate Rs 2000 crore loss suffered during the 2025 floods. Fruit growers have sought an immediate implementation of a crop insurance scheme for horticulture, on the lines of existing schemes for agriculture. The government needs to look into the problems of both the tourism and horticulture sectors. The two industries are the mainstay of the Kashmir economy. Both sectors have suffered huge losses due to unforeseen circumstances last year. The government should announce a relief package in the budget for both sectors. To start with, the government can reschedule the loans and waive the interest. It should be followed by a comprehensive scheme to boost both sectors. The budget is an opportunity for the government to reset priorities and boost economic growth.
Budget 2026-27
