SRINAGAR: Jammu and Kashmir Chief Minister Omar Abdullah on Friday presented a Rs 1.13 lakh crore budget for 2026–27, projecting an 11% growth rate for the UT’s economy. He proposed to reduce rebate on diesel by Rs 2 per litre, priority to local youth in recruitment in industrial units availing of government concessions, six free LPG cylinders per to all Antyodaya Anna Yojana (AAY) households, and fast-tracking recruitment for 23,800 vacant posts.
Omar, who holds the finance portfolio, said J&K Gross State Domestic Product (GSDP) has shown an upward trajectory, rising from Rs 2.36 lakh crore in 2023–24 to Rs 2.62 lakh crore in 2024–25, and is projected to touch Rs 2.88 lakh crore in 2025–26. He attributed the momentum to reforms and strategic capital investments, despite fiscal pressures following the Pahalgam terror attack and floods last year. The CM announced that industrial units availing of subsidies, electricity benefits or land will be mandated to give priority to employment of local youth. “The move aims to ensure that benefits of industrialisation are shared equitably with local communities and contribute meaningfully to regional prosperity,” he said.
Omar announced 23,800 vacant posts, including 2,800 gazetted, 14,000 non-gazetted and 7,000 Class IV positions, will be filled in a time-bound manner. “The government is committed to finding a just and humane resolution to issue of regularsation of casual and temporary workers,” he said. Omar proposed reducing rebate on high-speed diesel by Rs 2 per litre. “This will rationalise the price of HSD and encourage a shift towards cleaner technologies,” he said.
“The energy ministry has sanctioned installation of rooftop solar systems of 2 kW each at 2.22 lakh AAY households. The systems are expected to generate 200 units per month per household, entirely free of cost,” he said.
The CM said since J&K has witnessed a rise in incidence of cancer, the government will roll out a Cancer Control Strategy for J&K in collaboration with NITI Ayog and ICMR.