Jammu, 01-02-2026: Sh. Lalit Mahajan Co-Chairman Federation of Industries Jammu & President of the Bari Brahmana Industries Association hails the Union Budget 2026-27 presented by Hon’ble Finance Minister in Lok Sabha today which we termed as a step towards the world 3 Largest Economy of Vikist Bharat Mission of our Hon’ble Prime Minister of India with a Growth Rate of around 7% for Stability,Sustained Growth, Fiscal Balance, Moderate Inflation.
While going through the Budget Highlights, Sh. Lalit Mahajan termed the 2026-27 Union Budget Proposal as positive towards overall growth of the Country in each sector covering the Youva Shakti, Employment avenues for Youths, De -Regulations under Ease of Doing Business, BIO-Pharma Sector, Hi-Tech Tool Rooms for Skill Development,Textile Parks, Sports Goods Clusters, Equity Support SME Growth Fund, Benefits to MSME under CGTMSE, Waterways projects for connection the States, Reduction of Custom Duty on Electronic Goods parts to encourage the Domestic Manufacturing, High Speed Rail Corridors , Manufacturing of Containers, IT Sector, Income Tax Reforms etc.
Sh. Lalit Mahajan draw the kind attention of Hon’ble Prime Minister and Hon’ble Union Finance Minister that Jammu & Kashmir State is still an Industrial Backward State due to Locational Disadvantages resulting limited Employment Opportunities for the Local Youths and it is the need of the Hour for a Special Central Package of Incentives for providing Hand Holding Support to Existing and well as New Units in MSME Sector to create the Employment avenues for the Local Youths with the Establishment of Public Sector Manufacturing Units in the Defence production, Fertilizer Plant, Sugar Mill etc.which will explore the possibility of rapid Growth of MSME Sector.
It is pertinent to mention here that the Climate of HIlly Areas of Jammu & Kashmir is suitable for the creation of IT Sector Infrastructure by Inviting the Global as well as Domestic IT Sector Companies to Invest in Jammu & Kashmir to provide Employment Opportunities for the skill available in the State.
We also request Hon’ble Lt. Governor Sh. Manoj Sinha, Hon’ble Chief Minister Sh. Omar Abdullah for adequate Budgetary Provisions in the State Budget on the basis of our request made in the Pre-Budget Meeting for Existing Working MSME Units who are facing stiff Competition from the Units covered under NCSS-2021 Package of Incentive.