Assures support for local businesses to bolster tourism, entrepreneurship, handicraft sector
Jammu: Chief Minister Omar Abdullah on Friday announced Rs 3,773.93 crore for Jammu and Kashmir’s rural sector under capital expenditure for the fiscal year 2025-26.
This marks an increase of Rs 990.04 crore from the revised allocation of the previous year.In his budget speech in the Assembly, Omar highlighted the importance of tourism, a vital sector that is deeply rooted in the region’s culture and economy.
In 2024 alone, Jammu and Kashmir witnessed a record 2.36 crore tourist visits, solidifying its reputation as a premier destination.The Chief Minister also highlighted the popularity of locations such as Gulmarg and the success of events like the Kashmir Marathon, which attracted 1,800 global participants.
“The tourism sector has been granted industry status and is poised for strong growth,” Abdullah said. He outlined plans for the development of new master plans for tourist hotspots including Gulmarg, Pahalgam and Sonamarg, alongside efforts to enhance infrastructure and amenities in underdeveloped areas.
He said initiatives like the SPREAD (Sustainable Promotion of Emerging Alternate Destinations) programme are aimed at diversifying tourist attractions to alleviate strain on overcrowded sites.Abdullah also announced plans to promote water sports across J&K’s picturesque water bodies, including kayaking and canoeing at Manasbal and introduced upgrades to winter sports infrastructure at Gulmarg and Sonamarg. “Sonamarg has become an all-weather destination,” he said, adding that the region has a potential to host international winter sports events.
Moreover, the budget allocation for tourism has been raised to Rs 390.20 crore, representing an increase of Rs 121.77 crore compared to 2024-25. This boost in funding is expected to catalyse infrastructure enhancements, sustainability initiatives, and new tourism projects, thereby reinforcing the region’s global standing.
The industrial development section of the CM’s address highlighted efforts to stimulate entrepreneurship and boost the local economy. An allocation of Rs 50 crore has been proposed to support mentorship and incubation for emerging entrepreneurs, with the goal of transforming Jammu and Kashmir into a dynamic hub for startups.“Local procurement through the GeM portal has surged, with purchases from local suppliers reaching Rs 1,527.74 crore,” Omar said, adding that the government is committed to supporting local businesses.
He also announced the implementation of a new policy to provide price preferences for local MSMEs in public procurement, aiming to level the playing field amidst rising competition.To enhance the handicraft sector, the Chief Minister announced initiatives to promote ‘Brand J&K’, including the development of PM Unity Malls for artisans and the expansion of the Karkhandar Scheme.
With employment support for over 4.22 lakh individuals, many from economically disadvantaged backgrounds, Abdullah said the government is dedicated to preserving and promoting J&K’s rich cultural heritage.Omar said Srinagar’s recognition as a ‘World Crafts City’ and inclusion in UNESCO’s Creative City Network is a proud achievement. “To empower artisans, PM Unity Malls will be developed in Srinagar and Jammu for direct market access, the Karkhandar Scheme will be expanded, and universal coverage under the Artisan Credit Card (ACC) will be ensured,” he said.
The key policies, including the J&K Public Procurement, Logistic and Export Policies will be introduced to strengthen the business ecosystem and boost global market access, he added—(KNO)
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