It is only natural for political parties to attack each other over a crucial financial document like the budget. Criticism, blame games, and heated statements inside and outside the legislature are part of political culture. Every party views the budget through its own lens and reacts accordingly. However, amid all this political noise, when the largest and most representative traders’ body comes forward to broadly welcome the budget, it is certainly a moment of satisfaction and encouragement for the government.
The trading community is widely regarded as the backbone of any state’s or region’s economy. Trade, industry, and business activities not only generate employment but also strengthen the government exchequer. Therefore, when an organisation like the Chamber of Commerce states that the budget is people-friendly and reflects social equity, public welfare, and economic resilience, such an opinion should not be dismissed as a mere formality. This assessment comes from a section of society that remains closely connected with ground realities and directly experiences the impact of policies.
Giving special attention to sectors such as education, healthcare, tourism, sports, and information technology is clearly a sign of forward-looking governance. The proposal to establish emergency hospitals in border areas like Uri and Poonch will not only strengthen healthcare infrastructure but also instil a sense of security and confidence among the local population. Similarly, initiatives related to water sports, water parks, adventure tourism, and the restoration of heritage and religious sites can help extend the tourist season beyond a few months, ultimately benefiting the local economy.
However, alongside appreciation, the concerns and shortcomings pointed out by the trading community deserve serious attention, and addressing them should be the government’s foremost responsibility. The absence of clear and specific budgetary support for the industrial sector is a matter of concern that could prove harmful in the long run. If industrial incentives are under consideration, a clear timeline for their implementation must be announced so that entrepreneurs are not left grappling with uncertainty.
The possible expiry of crucial benefits such as turnover incentives and interest subsidies in March 2026 is particularly worrying. These incentives are not mere concessions but lifelines for industrial units, especially at a time when inflation, energy costs, and raw material prices are already exerting pressure. If no alternative mechanism is put in place after these benefits lapse, the direct impact will be felt on employment, production, and investment.
It is encouraging that incentives for sick MSME units and the introduction of a “Single Certificate of In-Principle Approval” for new enterprises have been proposed. Yet the key question remains whether these measures will be implemented on the ground in a timely and effective manner. Past experience shows that even well-intentioned policies lose their relevance if delayed or trapped in bureaucratic complexities.
In conclusion, political rhetoric over the budget will continue, but the endorsement by the trading community is a positive signal for the government. The real test, however, lies not in celebrating this appreciation alone but in sincerely addressing the shortcomings highlighted by traders and resolving their genuine concerns. If the Omar Abdullah government treats this constructive yet critical feedback with seriousness, the budget can move beyond being a mere document and truly become an instrument of development and prosperity.
