Omar Abdullah, a key political figure in Jammu and Kashmir, has presented a substantial budget of Rs 1.27 lakh crore, prioritizing inclusive growth and fiscal responsibility. The budget aims to address economic disparities while ensuring sustainable development across the region.

Focus on equitable development

The financial plan emphasizes bridging gaps between urban and rural areas, with targeted allocations for infrastructure, education, and healthcare. Abdullah highlighted the need to create opportunities for marginalized communities, particularly in remote districts.

Key sectors receiving increased funding include agriculture technology modernization and tourism infrastructure development. The finance minister stressed that these investments would generate employment while preserving the region’s unique cultural heritage.

Fiscal prudence measures

Despite the ambitious spending plan, officials maintain that strict fiscal discipline will be exercised. The budget proposal includes mechanisms to monitor expenditure efficiency and reduce wasteful spending across government departments.

Economists have cautiously welcomed the balanced approach, noting that it attempts to stimulate growth while maintaining macroeconomic stability. However, some analysts question the feasibility of certain targets given current revenue projections.

The budget also introduces new digital initiatives for financial transparency, including real-time expenditure tracking systems and centralized procurement platforms. These measures aim to reduce corruption and improve accountability.

Sector-specific allocations

Education receives 18% of total outlay, with plans for new technical institutes and teacher training programs. Healthcare funding increases by 22% compared to last year, focusing on primary care expansion in underserved areas.

Transportation infrastructure gets 15% of the budget, targeting road network improvements and public transit upgrades. Environmental protection measures account for 6% of spending, including renewable energy projects and waste management systems.

The budget speech concluded with commitments to maintain social welfare programs while exploring new revenue streams through public-private partnerships and tourism promotion.

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