With focus on inclusive growth and fiscal prudence, Jammu and Kashmir Chief Minister Omar Abdullah on Friday presented a Rs 1.27 lakh crore Budget for 2026-2027 in the Legislative Assembly, asserting that the financial plan aims to lay a strong foundation for sustainable growth, social harmony and economic prosperity in the Union Territory.
The budget aims transforming the J&K into a modern, progressive and economically vibrant region by promoting investment, innovation and participatory governance.Presenting the Budget in the Legislative Assembly, Abdullah, who also holds the finance portfolio, estimated total gross receipts and expenditure at Rs 1,27,767 crore.
“The total gross receipts include provision for ways and means advances and overdraft of Rs 14,000 crore. He said the total net Budget estimates for the fiscal stand at Rs 1,13,767 crore, excluding the provision for advances and overdraft.The Chief Minister said Rs 80,640 crore has been earmarked under revenue expenditure and Rs 33,127 crore under capital expenditure in the Budget estimates for 2026-27.He added that the expected revenue receipt is projected at Rs 90,018 crore, while capital receipts are estimated at Rs 23,749 crore. Abdullah said the Union Territory’s own revenues, including tax and non-tax sources, are estimated at Rs 31,800 crore.
He said Jammu and Kashmir is expected to receive Rs 42,752 crore as central assistance and Rs 13,400 crore under centrally sponsored schemes (CSS). Highlighting fiscal indicators, the Chief Minister said the tax-to-GDP ratio is projected at 6.6 per cent for 2026-27, compared to 7.5 per cent in 2025-26.He said the fiscal deficit for 2025-26 was estimated at 2.98 per cent, substantially lower than 5.5 per cent in 2024-25 (RE).
However, he said the fiscal deficit for 2026-27 is estimated at 3.69 per cent, slightly higher than 3.63 per cent in 2025-26 (RE).The chief minister said the GDP for 2025-26 was projected at Rs 2,88,422 crore, showing a growth of 9.5 per cent over the previous year, while the GDP for 2026-27 is projected at Rs 3,15,822 crore, indicating a similar growth rate.He said the Budget aims to sustain economic growth while maintaining fiscal discipline and strengthening development initiatives across Jammu and Kashmir.
“With deep humility and unwavering resolve, I rise today to present my second Budget as Finance Minister. It is a privilege to be entrusted with the responsibility of shaping the financial future of our land,” Abdullah said.Describing the Budget as a roadmap for development, he said, “This Budget is not merely a ledger of figures, it is a fiscal compass charting our path towards a brighter horizon. It lays strong foundations for enduring economic growth, social harmony and sustainable prosperity.” The chief minister urged members of the House to work collectively for the region’s development.
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