Chief Minister Omar Abdullah presented Jammu and Kashmir's first legislative budget in seven years on Friday, marking a significant milestone in the region's governance after its transition from state to Union Territory status [1][2].

The ₹1.12 lakh crore ($13.5 billion) budget for fiscal year 2025-26 focuses on welfare measures, economic growth, and infrastructure development. This represents the first budget presentation in the Legislative Assembly since February 2018 [1].

"I stand before you today to present my first budget as finance minister, marking the first budget of a collective government in seven years," Abdullah stated during the presentation [1]. The budget follows the withdrawal of President's rule in October 2024 and subsequent assembly elections.

Key financial allocations include:

Revenue receipts of ₹97,982 croreCapital receipts of ₹14,328 crore₹41,000 crore in Central assistance₹13,522 crore for centrally sponsored schemes

The budget introduces several welfare initiatives, including 200 units of free electricity and 10kg monthly ration for Antyodaya Anna Yojana beneficiaries, free public transport for women, and enhanced marriage assistance schemes [3].

Economic projections show an estimated GDP growth of 9.5% for 2025-26, with the fiscal deficit targeted at 3.0% of GDP, down from 5.5% in the previous year [4].

Opposition parties have criticized aspects of the budget, with the PDP noting that only 95,000 of 16 lakh ration card holders will benefit from the electricity scheme, while the BJP argues it neglects daily wage laborers and marginalized communities [1].