Budgetary emphasis on development of ecologically sustainable mountain trails in J&K will generate fresh employment: LG Sinha

Lieutenant Governor Manoj Sinha on Sunday hailed the Budget 2026-27 for laying emphasis on the development of ecologically sustainable mountain trails in a bid to promote tourism in J&K.

Expressing his gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman on the development of ecologically sustainable mountain trails in J&K UT, the Lieutenant Governor said that the initiative would generate fresh employment opportunities and invigorate our tourism industry with renewed vigor.

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He described the budget as pragmatic which, he said, would prioritize economic acceleration, creation of future-ready infrastructure, sustenance of growth momentum, charting the path to $5-trillion economy as a milestone within a few years and comprehensive fiscal strategy will balance growth ambition with social welfare. “Budget for 2026-27 emphasizes accelerating economic expansion, strengthening infrastructure, advancing manufacturing capabilities across 7 strategic sectors, while maintaining a steadfast commitment to welfare. It will have a transformative impact in burgeoning industries, renewed momentum for semiconductor advancement through India Semiconductor Mission (ISM) 2.0, and a substantial stride toward diminishing India’s reliance on other countries for rare earth elements with specialized rare earth zones,” he said.

The Lieutenant Governor observed that with Artificial Intelligence, job creation and service sector enhancement taking center stage, India’s competitive edge will strengthen across every economic domain, while this progressive financial blueprint will establish the foundation for comprehensive sectoral expansion and global prominence. “Budget 2026-27 charts the path to a $5-trillion economy milestone within a few years and presents our ambitious vision to achieve developed economy status in less than 2 decades. The budget also promises unprecedented empowerment for youth, women, and farmers. With manufacturing, infrastructure, MSMEs, healthcare, urban advancement, electronics and supply networks forming the core of the future strategy to maintain the country’s economic momentum, I believe we will be able to expand domestic production and ensure substantial employment generation,” he said.

Meanwhile, the Central government has proposed an allocation of Rs 43,290.29 crore for Jammu and Kashmir in the Union Budget for 2026–27, marking an increase of nearly Rs 2,000 crore over the current financial year.

Budget documents show that the Centre has enhanced financial support to the Union Territory as part of its continued assistance to bridge resource gaps and fund key sectors.

For the ongoing financial year, Jammu and Kashmir’s total assistance has been revised to Rs 41,340 crore, up from the earlier estimate of Rs 41,000.07 crore, reflecting an upward revision of Rs 340 crore.

In the 2026–27 Budget, the Centre has proposed Rs 42,650 crore as central assistance to cover the Union Territory’s resource deficit.

An additional Rs 279 crore has been earmarked as grants towards the Union Territory Disaster Response Fund.

The allocation also includes Rs 259 crore as equity support for the Jhelum–Tawi Flood Recovery Project and Rs 101 crore to support capital expenditure in Jammu and Kashmir.The increased allocation comes as the Union Territory continues to depend heavily on central assistance for developmental spending and disaster mitigation efforts.