J&K Budget Session 2026: 11% Growth Claim vs Rising Unemployment Reality

J&K Budget Session Kicks Off: 11% Growth Claims Amid Opposition Fire on Unemployment and Economic Woes

Jammu, February 2, 2026 – The Jammu and Kashmir Legislative Assembly opened its Budget Session today with Lieutenant Governor Manoj Sinha painting a picture of robust economic momentum, boasting an impressive 11% annual nominal growth rate. But as Chief Minister Omar Abdullah prepares to unveil the 2026-27 budget on February 6, opposition voices are striking a sharply different chord, slamming the government over soaring unemployment and demanding a hefty central economic package.

Speaking to the assembly in Jammu, Sinha highlighted the territory's rise as one of India's fastest-growing Union Territories. "GST collections jumped from Rs 8,064 crore in 2023-24 to Rs 8,586 crore last year, with power tariff revenues up 16%," he said, crediting policy reforms, infrastructure pushes, and investor-friendly measures. Digital progress got a shoutout too: 82 crore e-transactions last year, averaging 22 lakh daily, and Rs 9,000 crore funneled directly to 80 lakh beneficiaries via 77 DBT schemes.

Infrastructure steals the show in Sinha's narrative. Over Rs 61,528 crore poured into roads—expressways, national highways, ring roads, and tunnels. Three key tunnels, including the Sonamarg, are done; eight more, like the strategic Zojila, are nearing completion. Tourism held strong too, drawing 1.78 crore visitors in 2025 despite security hiccups and natural disasters.

Opposition Pushes Back Hard

Not everyone's buying the rosy outlook. PDP spokesperson Zuhaib Mir didn't mince words: "The budget figures are recycled from last year. J&K has the highest rate of educated unemployed youth in India. Tourism's shut down, youth are jobless—we expected a real economic package for our pains, but got nothing."

Deputy Chief Minister Surinder Choudhary echoed the gloom, admitting unemployment has spiked over the past decade amid declines in core sectors. He blamed floods, security issues, and tourism slumps, while pitching for major central aid.

PDP dismissed the Union Budget's Rs 43,290 crore allocation for J&K (up 5% from last year) as "optics." Nearly Rs 42,650 crore is just revenue deficit grants—no game-changer.

What's Next?

The 27-day session stretches into April to sync with Ramadan, wrapping on the 4th. Abdullah, doubling as finance minister, has his work cut out: balancing growth claims with real fixes for jobs and revival. As one local trader told me off the record, "Numbers look good on paper, but my shop's still empty half the time."

Will this budget deliver the package J&K craves, or just more promises? Stay tuned—I'll be watching closely.