Omar Abdullah Tables ₹1.13 Lakh Crore Budget for J&K, Focuses on Growth and Worker Regularisation

Jammu/Srinagar: Chief Minister Omar Abdullah on Friday presented a ₹1,13,767 crore Budget for the financial year 2026–27 in the Jammu and Kashmir Legislative Assembly, describing it as a forward-looking financial roadmap aimed at strengthening economic growth, ensuring social stability and accelerating development across the Union Territory.

Delivering his second Budget as Finance Minister, Abdullah stated that the total net Budget estimates for 2026–27 stand at ₹1,13,767 crore, excluding provisions for ways and means advances and overdraft. Of the total outlay, ₹80,640 crore has been earmarked for revenue expenditure, while ₹33,127 crore has been allocated towards capital expenditure, underlining the government’s focus on infrastructure creation and long-term asset building.

On the receipts side, the Budget projects ₹90,018 crore as revenue receipts and ₹23,749 crore as capital receipts for the coming fiscal year. The Chief Minister announced that the Union Territory’s own revenues — both tax and non-tax — are estimated at ₹31,800 crore.

In addition, ₹42,752 crore is expected to flow as central assistance, along with ₹13,400 crore under Centrally Sponsored Schemes (CSS), forming a substantial component of the overall financial framework.

Abdullah reiterated that the Budget seeks to lay strong foundations for sustainable economic growth and participatory governance. He also announced that the government will soon bring forward a structured roadmap for the regularisation of daily-rated and casual workers, addressing a long-pending issue that has drawn significant public attention.

With a sizeable capital component and reliance on both internal revenue mobilisation and central support, the 2026–27 Budget is being viewed as a critical policy statement outlining the government’s fiscal priorities for the year ahead.

This is his second budget as the CM, following his first presentation in March 2025. It was highly anticipated, with various groups expecting important announcements and measures.