‘Manufacturing, MSMEs and tourism thrust to spur growth in J&K’
TAUSEEF AHMAD
JAMMU, Feb 1: Lieutenant Governor of Jammu and Kashmir, Shri Manoj Sinha, on Saturday hailed the Union Budget 2026–27 as a pragmatic, forward-looking and growth-oriented financial roadmap, asserting that it lays a strong foundation for accelerating India’s economic momentum and steering the country towards the coveted $5 trillion economy milestone within the next few years.
Describing the budget as a carefully balanced fiscal strategy, the Lieutenant Governor said it successfully harmonises economic ambition with social welfare, while simultaneously focusing on the creation of future-ready infrastructure, expansion of domestic manufacturing, and sustained inclusive growth.
“The Budget 2026–27 prioritises economic acceleration, strengthens infrastructure, and charts a clear path towards achieving the $5 trillion economy target in the near future. It is a comprehensive financial blueprint that will ensure sustained growth while safeguarding the welfare of every section of society,” Shri Sinha said.
The Lieutenant Governor expressed his gratitude to Prime Minister Shri Narendra Modi and Union Finance Minister Smt. Nirmala Sitharaman for their special focus on Jammu and Kashmir, particularly the announcement related to the development of ecologically sustainable mountain trails in the Union Territory. He said the initiative would not only protect fragile ecosystems but also generate new employment opportunities and give a significant boost to the region’s tourism sector.
“The development of sustainable mountain trails in J&K will invigorate tourism with renewed vigour, attract adventure and eco-tourism enthusiasts, and open up fresh livelihood avenues for local communities,” he added.
Highlighting the broader national vision outlined in the budget, Shri Sinha said the 2026–27 fiscal plan places strong emphasis on accelerating economic expansion, strengthening infrastructure, and advancing manufacturing capabilities across seven strategic sectors, while maintaining an unwavering commitment to welfare schemes.
He noted that the budget would have a transformative impact on emerging industries, with renewed momentum for the semiconductor ecosystem through India Semiconductor Mission (ISM) 2.0. He also welcomed the proposed creation of specialised rare earth zones, calling it a decisive step towards reducing India’s dependence on foreign countries for critical rare earth elements, which are vital for electronics, renewable energy, and defence manufacturing.
The Lieutenant Governor further observed that the budget’s sharp focus on Artificial Intelligence, job creation, and service sector enhancement would significantly strengthen India’s competitive edge across all economic domains.
“With AI-driven growth, employment generation and service sector expansion taking centre stage, India’s global competitiveness will be further reinforced. This progressive financial roadmap lays a strong foundation for comprehensive sectoral growth and enhances India’s standing on the global economic map,” he said.
Reiterating the long-term vision of the Union Budget, Shri Sinha said it not only charts the course towards a $5 trillion economy but also presents an ambitious roadmap to transform India into a developed economy within the next two decades.
He emphasised that the budget promises unprecedented empowerment of youth, women, and farmers, placing them at the heart of the nation’s development journey.
“With manufacturing, infrastructure, MSMEs, healthcare, urban development, electronics and resilient supply networks forming the core of our future strategy, the country will be able to expand domestic production capacities and ensure large-scale employment generation,” the Lieutenant Governor said.
He expressed confidence that the Budget 2026–27 would act as a catalyst for inclusive growth, technological advancement and economic self-reliance, reinforcing India’s march towards long-term prosperity.
