Big news for state people’s. Jammu and Kashmir’s Chief Minister Omar Abdullah unveiled a budget of Rs 1.12 lakh crore for the 2025-26 financial year on Friday, focusing heavily on welfare and development initiatives. This budget marks the first presentation since Jammu and Kashmir became a Union Territory in 2019, and it received a warm round of applause from assembly members. The CM has introduced several key measures, including free electricity, enhanced mobility for women, support for vulnerable groups, and initiatives to bolster press freedom. Here are five major highlights from the budget.
Support for Women
In this budget, the CM has prioritized women’s transportation needs. Starting April 1, all women in Jammu and Kashmir will enjoy free rides on government-operated public transport, including e-buses. This is a groundbreaking initiative for the region.
Additionally, the government aims to boost women’s mobility, encourage workforce participation, and enhance independence by eliminating transportation costs. Under the ‘Lakhpati Didi’ scheme, 40,000 women will receive support to start micro-businesses, helping them achieve a sustainable annual income of Rs 1 lakh and fostering economic independence throughout the Union Territory.
200 units of free electricity
CM Omar Abdullah has delivered on his election commitments with this budget. As part of the National Conference’s election promise, the Chief Minister proposed offering 200 units of free electricity each month to all Antyodaya families in Jammu and Kashmir. This initiative, linked with the PM Suryaghar Bijli Yojana, aims to set up grid-connected solar systems that will generate the necessary power and eliminate electricity bills.
The CM mentioned that with an investment of Rs 750 crore over five years, this plan will also help cut down AT&C losses and encourage sustainable energy. He pointed out that the power sector has been under pressure due to high AT&C losses, leading to borrowing of Rs 28,000 crore in recent years, which has raised public debt from 48% of GSDP in FY 2015-16 to 52% in 2023-24. The government has prioritized this sector.
Zero stamp duty
The CM has introduced zero stamp duty for property transfers between blood relatives in this budget. To simplify transactions and minimize legal disputes over property transfers, the government is reforming the stamp duty structure for “gift transactions” among blood relatives. Currently, the stamp duty for these transactions ranges from 3% to 7%, which discourages formal registration.
In response to this, he proposed eliminating the stamp duty on properties gifted to blood relatives, promoting legal documentation and reducing inheritance conflicts. He also mentioned that this move will provide financial relief, enhance transparency, and streamline property transfers in Jammu and Kashmir.
Provision of free ration
The party’s election promises also included free ration. While presenting the budget, the CM announced that starting April 1, the government will provide 10 kg of free ration per person to all AAY beneficiaries. This initiative aims to improve nutritional support for the most vulnerable populations.
The Chief Minister highlighted the importance of press freedom during the budget presentation. He reaffirmed his government’s dedication to upholding this freedom and ensuring that journalists can operate in a safe and open environment.
He emphasized, “The media is essential for shaping public opinion, bolstering democratic institutions, and keeping the public informed. With this in mind, we are focused on enhancing press infrastructure, improving access to information, and safeguarding journalists’ rights.” In this context, Abdullah announced plans to “revitalize and support the Press Club in Jammu and Srinagar, providing journalists with a dedicated space to collaborate, engage, and contribute meaningfully to public discussions.”