Omar Abdullah presents Rs 1.27 lakh crore Budget

Jammu: Jammu and Kashmir Chief Minister Omar Abdullah on Friday presented a Rs 1.27 lakh crore Budget for 2026-2027 in the Legislative Assembly, asserting that the financial plan aims to lay a strong foundation for sustainable growth, social harmony and economic prosperity in the Union Territory.

He said his government is committed to transforming the J&K into a modern, progressive and economically vibrant region by promoting investment, innovation and participatory governance.

Presenting the Budget in the Legislative Assembly, Abdullah, who also holds the finance portfolio, estimated total gross receipts and expenditure at Rs 1,27,767 crore.

“The total gross receipts include provision for ways and means advances and overdraft of Rs 14,000 crore. He said the total net Budget estimates for the fiscal stand at Rs 1,13,767 crore, excluding the provision for advances and overdraft.

The Chief Minister said Rs 80,640 crore has been earmarked under revenue expenditure and Rs 33,127 crore under capital expenditure in the Budget estimates for 2026-27.

He added that the expected revenue receipt is projected at Rs 90,018 crore, while capital receipts are estimated at Rs 23,749 crore.

Abdullah said the Union Territory’s own revenues, including tax and non-tax sources, are estimated at Rs 31,800 crore.

He said Jammu and Kashmir is expected to receive Rs 42,752 crore as central assistance and Rs 13,400 crore under centrally sponsored schemes (CSS).

Highlighting fiscal indicators, the Chief Minister said the tax-to-GDP ratio is projected at 6.6 per cent for 2026-27, compared to 7.5 per cent in 2025-26.