Srinagar: Chief Minister Omar Abdullah presented a zero-deficit budget in the Jammu and Kashmir Assembly on Friday, unveiling an outlay of Rs1.12 lakh crore for 2025-26. The budget focuses on multi-sectoral welfare and development, marking the first full-fledged financial plan since JK became a Union Territory in 2019.
Abdullah, who also holds the finance portfolio in the National Conference-led government, delivered his maiden budget speech, emphasising its role as a roadmap for a prosperous and progressive JK. “This budget reflects the aspirations of our people, laying a strong foundation for economic growth, social progress, and sustainable development,” he said.
The net budget estimates for 2025-26 stand at Rs 1,12,310 crore, excluding provisions for ways and means advances and overdrafts. The expected revenue receipts are Rs 97,982 crore, while capital receipts amount to Rs 14,328 crore. Revenue expenditure is projected at Rs 79,703 crore, with capital expenditure at Rs 32,607 crore.
Gross receipts are estimated at Rs 1,40,309.99 crore, including an overdraft provision of Rs 28,000 crore. Omar highlighted that JK’s own revenue— comprising tax and non-tax sources— is expected to reach Rs 31,905 crore, with an additional Rs 41,000 crore in central assistance and Rs 13,522 crore under the Centrally Sponsored Schemes (CSS) and the Prime Minister’s Development Package (PMDP).
