Mushtaq Bala
The recently presented Budget 2025 by Jammu & Kashmir Chief Minister Omar Abdullah has sparked widespread discussion, particularly regarding its potential to revive the region’s struggling industries and set the stage for long-term economic stability. With industries in J&K having suffered due to past policy missteps and inconsistent support, this budget is seen as a crucial opportunity to unlock economic potential, create jobs, and strengthen local enterprises.
A Bold Vision for Industrial Revival
One of the budget’s standout features is its strong emphasis on industrial growth, a much-needed focus given the challenges faced by J&K’s business community. Stakeholders have long highlighted the untapped potential of over 40,000 industrial units, which have remained underutilized due to policy gaps and lack of investment incentives. CM Omar Abdullah’s administration has acknowledged these concerns, and this budget signals a clear intent to address them.
The proposed policy interventions include:
Revamping Industrial Policies – A review of past policies to ensure they align with the needs of modern businesses.
Investment in Infrastructure – Strengthening industrial zones, improving connectivity, and upgrading power supply to reduce operational bottlenecks.
Unlocking Locked Capital – The budget aims to mobilize ₹40,000 crore in dormant investments, which could generate up to 3 lakh jobs in the region.
Ease of Doing Business – Streamlining regulatory frameworks to attract private investment and entrepreneurship.
Overcoming Challenges: A Pragmatic Approach
While the vision is promising, the success of the industrial revival plan depends on effective implementation and sustained government support. Past policies suffered due to bureaucratic delays and lack of coordination between departments. However, CM Omar Abdullah’s leadership has prioritized stakeholder engagement, ensuring that industry leaders, policymakers, and investors work together for a practical and result-oriented approach.
The government has already started taking concrete steps by:
Introducing financial incentives for startups and MSMEs.
Enhancing credit accessibility for struggling businesses.
Promoting skill development programs to equip youth for emerging job markets.
Can This Budget Deliver?
CM Omar Abdullah’s Budget 2025 is being seen as a pivotal moment for J&K’s economy. The region stands at a crossroads—either it continues grappling with policy stagnation, or it seizes this opportunity to become a thriving industrial hub. If the budget’s proposals are executed efficiently, J&K could witness a transformative economic turnaround, benefitting businesses, job seekers, and the overall economic landscape.
The question remains: Will this budget be the long-awaited catalyst for industrial revival in Jammu & Kashmir? With Omar Abdullah at the helm, optimism is running high. The coming months will be crucial in determining whether this ambitious vision turns into reality.
Mushtaq Bala, filmmaker and Editor-in-Chief of Kashmir Pen, can be reached at mushtaqabala@gmail.com.
