J-K CM presents Rs 1.12 trn budget with focus on inclusive growth

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J-K CM presents Rs 1.12 trn budget with focus on inclusive growth - Business Standard

Quick Summary:

Jammu and Kashmir, which was accorded the Union Territory status after Ladakh was carved out as a separate UT in 2019 following the abrogation of Article 370, has witnessed its first annual budget since 2018 when the erstwhile PDP-BJP government tabled the then state's document of annual finances.

Chief Minister Omar Abdullah on Friday presented a zero-deficit budget in the Jammu and Kashmir assembly, announcing an outlay of Rs 1.12 lakh crore for 2025-2026 and emphasising multi-sector welfare and development of the Union Territory.

Abdullah, who also holds the finance portfolio in the National Conference-led government, presented his maiden budget in the legislative assembly.