Jammu, Feb 10: Chief Minister Omar Abdullah on Tuesday launched a twin blistering assault against his major political adversaries Peoples Democratic Party (PDP) and the Bharatiya Janata Party (BJP), stating that Special Assistance to States for Capital Investment (SASCI) would not harm interests of Jammu and Kashmir, which was actually put into debt-trap by PDP (-BJP) government during its tenure.
Replying to the general discussion on J&K budget for the year 2026-27 presented on February 6 by him in the J&K Legislative Assembly, the Chief Minister also announced that the process of regularisation of daily wagers would start from the year 2026.
Given his remarks about BJP, his almost entire address was punctuated by disruption amid the uproar created by the competing treasury and opposition benches. Chief Minister Omar Abdullah is also the Finance Minister of J&K. This year he presented his second consecutive budget.
Taking a dig at the BJP MLAs going gaga over Indo-US trade deal, CM Omar stated that it was totally against the interests of Jammu and Kashmir.
In another major announcement, he informed the House that all the closed tourist destinations of J&K would be reopened in the coming few months after a go-ahead was already given by the central government.
ìWith regard to the tourist sector, new tourist sectors will be opened, new tourist destinations will be developed. My colleagues in the House demanded the reopening of closed tourist destinations. I assure my members that this issue has been deliberated with the Centre and in the coming few months, all closed destinations will be reopened,î the Chief Minister assured.
INDO US TRADE
During his address, CM Omar Abdullah raised serious concerns over provisions of the Indo-US trade deal, stating it could adversely impact Jammu and Kashmirís dry fruit and horticulture economy. ìAllowing duty free import of chestnuts, walnuts and almonds raises questions about sympathy for our farmers,î he said. He added that even apples should have been protected.
SASCI NOT A DEBT TRAP
With regard to the criticism of the SASCI initiative, the Chief Minister robustly defended the initiative by targeting PDP.
ìHere one of our youth (leader) made a very big statement about SASCI. He became very emotional and even described it as a corporate debt. He referred to it as ìAdani-Ambani debt.î Speaker Sir, it is necessary to understand the SASCI scheme. Unfortunately, those who donít understand it do an analysis of it. Under SASCI, J&K will procure an interest-free loan for 50 years. Allegation was levelled that J&K was being pushed to a dangerous debt-trap and we were described as irresponsible people,î CM Omar stated.
Addressing the Chair, the Chief Minister clarified, ìHad a loan of Rs 3000 Cr been spiralled to Rs 30,000 Cr after 50 years. I too would have described it as an irresponsible move. But we too did calculations and found that a loan of Rs 3000 Cr procured now after linking it with the inflation, would be equivalent to Rs 97 Cr only. Tell me now ñ is it an irresponsible move?î
On Monday, PDP MLA Waheed-ur-Rehman Para, while participating in the debate, had accused the government and the Chief Minister of ìmortgaging J&Kís interests and putting it on sale by bringing in SASCI without consultations.î
Referring to the apprehensions expressed by the Congress MLA Tariq Hameed Karra, the Chief Minister said, ìKarra Sahib mentioned that only J&K got Rs 100 Cr ceiling while other states did not procure these loans. He also apprehended that the liberal funding was aimed at trapping J&K. Just for Karra Sahibís information, I would share details of the loans procured by our neighbouring states under it (SASCI) during the past few years.î
He informed the House that the scheme began in 2020-21. Punjab procured Rs 296 Cr in the first year followed by Rs 223 Cr in the second year, Rs 800 Cr in the third year and Rs 2270 Cr during the year 2024-25.
Similarly, Himachal Pradesh took Rs 91 Cr in the first year followed by Rs 135 Cr the next year, Rs 1270 Cr in the third year; Rs 170 Cr in the fourth year and Rs 1500 Cr in the fifth year. ìIf we bring Rs 3000 Cr for J&K and its people, I believe it is a major success for the government. We did not indulge in any irresponsible act,î he asserted.
In the same breath, CM Omar reminded Para, ìYou are talking about an unrealistic budget. It was brought during your tenure between 2015-18 when an unfunded budget was presented before the J&K people. They had resources worth Rs 50000 Cr only yet they presented a budget of Rs 65000 Cr, leaving an unfunded debt of Rs 15000 Cr for us. Then again in 2017-18, they had resources worth Rs 55000 Cr, their budget-size was Rs 79000 Cr, leaving us burdened with an unfunded debt of Rs 24000 Cr. All these unrealistic and unfunded budgets were cleared by them through Hundis. They burdened us with power debt, which Iím still repaying.î
ìSo, Para Sahib, that (interest-free) loan for 50 years will benefit J&K. J&K suffered damage due to debts created by you and being repaid by us. Still, Iím ready to have a discussion as and when you bring a resolution (for discussion),î he added.
DAILY WAGERSí REGULARISATION
During the uproar, the Chief Minister also made the much-anticipated announcement related to the regularisation of the daily wagers. ìWe will start the process of regularisation of those daily wagers of J&K, who have been moving from pillar to post all these years and with it, we will expose another lie of the opposition,î he aimed another barb at the agitating BJP MLAs.
He also reaffirmed his governmentís firm commitment to fulfilling all promises made to the people of Jammu and Kashmir, stating that the Budget 2026ñ27 laid a strong foundation for sustained economic growth, social welfare and inclusive development across Jammu and Kashmir.
He said the government was focused on creating employment opportunities, strengthening core infrastructure, improving public services and ensuring that the benefits of development reach every section of society in a transparent and time-bound manner.
PRO-PEOPLE BUDGET FRUSTRATED OPPOSITION
The Chief Minister said the opposition was unable to digest the pro-people nature of the budget.
ìI can understand their frustration as they were not anticipating such a good budget for the people from our side. But we brought this budget keeping in view the interests of J&K people; we brought the budget which could benefit our youth and the poorest sections of J&K,î he said.
He pointed out that the budget was described as Kashmir-centric. ìHad it been a Kashmir-centric budget, we would not have resumed the Darbar Move. The cancellation of the Darbar move was the biggest injustice meted out to Jammu which we reversed to give a boom to Jammuís economy.
Countering the allegation of the BJP that the budget failed to live up to the expectations of J&K people and disappointed all sections of society, CM Omar said, ìThey are picking holes in the budget and could not find anything good in it. I donít want to embarrass them here to tell them that I received a call from Delhi appreciating my budget. I donít want to reveal who called me. They (BJP) will be embarrassed,î he said.
He also recalled that SRO-based employment support for militancy-hit families was initiated in 1996 under former Chief Minister Farooq Abdullah, benefiting thousands.
Responding to the three-day-long debate, Chief Minister Omar Abdullah, who is also the Leader of the House, expressed gratitude to all legislators who participated in the discussion.
ìFor the last three days, I have been standing here to respond to the debate about the Budget. I thank all the honourable MLAs who took part. They gave valuable suggestions and we will try to implement many of them in the future,î he said.
He noted that the Budget was widely discussed not only inside the House but also outside, and that people have largely responded positively.
ìGenerally, people were satisfied with the Budget. They understand that it is not easy to propel Jammu and Kashmir forward in these circumstances, but through this Budget, a roadmap has been laid out to take J&K out of the present challenges,î he remarked.
The Chief Minister underlined that the governmentís foremost responsibility was towards the poorest and most vulnerable sections of society.
ìThe first responsibility of every government is to help the weakest and the poorest. Through this Budget, we have tried to provide comfort to those who need it the most,î he said.
Rejecting criticism over not announcing certain populist measures, he stated firmly that the governmentís priority remained social justice and targeted welfare.
FREE LPG CYLINDERS
Clarifying a major welfare promise, CM Omar Abdullah announced that the government would provide free LPG cylinders from its own budgetary resources, without depending on any central scheme.
ìI want to put it on record that we will give these cylinders with our own money and resources. We do not need to take money from the central government for this,î he said.
WELFARE MEASURES BEYOND CSSs
Responding to allegations that the budget contained only centrally-sponsored schemes, the Chief Minister highlighted several unique initiatives funded directly through the J&K Budget.
He announced monthly assistance for orphans and vulnerable families.
ìWe have said that those who have lost both parents, or who have lost the sole breadwinner, will be declared orphans. If they are not covered under any other scheme, they will receive Rs 4,000 per month,î he said.
Similarly, scholarships for tribal children and poor students have been introduced where no other coverage exists.
The Chief Minister also recalled the success of free bus ridership for women announced last year.
ìThis was not a Government of India scheme. We introduced it through our own Budget, and it has been very successful,î he said.
This year, the government has extended free ridership relief to persons with disabilities.
The Chief Minister also spoke about expanding environmentally-friendly EV bus service while ensuring balanced growth for other transport sectors.
ìIf we can make EV buses reach more areas, autos and taxis will also run. By closing one thing, we cannot increase the economy,î he said.
Refuting claims that the budget was shrinking, CM Omar clarified expenditure figures and said misleading comparisons were being drawn.
ìIt is wrong to say we have spent only 12 per cent. If we look only at capital expenditure, it has reached 36 per cent, and by March 31 we will bring it close to last yearís level,î he informed.
He explained that last yearís revenue expenditure was higher due to settlement of expensive loans, which is not the case this year.
ìTo say that we are shrinking our economy is not true at all. We have put our money where it is most needed,î he asserted.
FOCUS ON RURAL ECONOMY
Emphasising that Jammu and Kashmir lives in its villages, Chief Minister Omar Abdullah said the Budget gives special attention to strengthening the rural economy.
ìAs long as village areas do not develop, J&K will not develop,î he said.
He listed key thrust areas including agriculture, horticulture, animal husbandry, fisheries and dairy development.
The Chief Minister announced a new dairy scheme aimed at increasing milk production by one lakh litres.
ìThe central government has praised this initiative and even wants to support us further through the National Dairy Development Board,î he said.
He also spoke about improving livestock quality, backyard poultry, and enhancing productivity.
In horticulture, he highlighted the introduction of weather-based crop insurance for the first time.
ìIf there is nothing in our Budget, then why did this not happen before?î he asked.
The Chief Minister also underscored his governmentís strong focus on youth empowerment through Mission YUVA, a flagship initiative aimed at creating sustainable livelihood opportunities, promoting entrepreneurship and enhancing skill development across Jammu and Kashmir. He said the scheme is designed to harness the potential of young people by supporting start-ups, self-employment ventures and targeted training programmes, enabling the youth to become active partners in the regionís economic growth.
Chief Minister Omar Abdullah further emphasised that industries benefiting from the incentives and support provided by the Jammu and Kashmir Government must also contribute meaningfully to local employment generation. He noted that industrial units receive substantial facilitation in the form of subsidies, land, power supply and other concessions, and therefore have a responsibility to prioritise the recruitment of local youth. The Government, he said, has impressed upon such industries to ensure that the people of Jammu and Kashmir, particularly the younger generation, are given adequate employment opportunities so that industrial growth translates into inclusive development and real benefits for the region.
The Chief Minister concluded by reiterating that the Budget 2026ñ27 was a roadmap for inclusive growth, long-term development and social justice, and that his government remained fully committed to delivering results on the ground for the people of Jammu and Kashmir.
