'Safar Taveel Hai': A Symbolic Opening In The House

2026-02-06 08:08:06

(MENAFN- Kashmir Observer) Jammu- Omar Abdullah on Friday opened his Budget speech in the Legislative Assembly by reciting a couplet, signalling that despite challenges, Jammu and Kashmir's journey of development would continue.

Beginning the Budget presentation, Omar recited:“Safar taveel hai, bojh bhi bhaari hai, par har surat yeh safar jaari hai.”

Later, at a post-Budget press conference, he explained the significance of the couplet.“The path is long and the burden is heavy, but the journey will continue,” he said.

Dressed in a brick red coat and cream coloured trousers with a cap, Omar carried the Budget documents in a leather bag into the House. He was accompanied by his advisor Nasir Aslam Wani and Chief Secretary Atal Dulloo.

Second Budget as Finance Minister

Presenting his second Budget, Omar said it was a privilege to be entrusted with shaping the financial future of Jammu and Kashmir. He described the Budget as a roadmap for sustained economic growth, social harmony and long term prosperity.

“This Budget is not merely a ledger of figures. It is a fiscal compass charting our path towards a brighter horizon,” he said, urging members of the House to work collectively for a strong and flourishing Jammu and Kashmir.

Highlighting the resilience of the people, Omar said the government remained committed to transforming Jammu and Kashmir into a modern, progressive and economically vibrant region. He said the focus would be on creating a business friendly ecosystem that promotes innovation and investment.

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He added that the Budget was prepared after consultations with elected representatives, industry leaders and other stakeholders to ensure participatory governance and a people centric approach.

Omar acknowledged that Jammu and Kashmir continues to face fiscal stress due to high committed expenditure and limited own revenue capacity. Tax and non tax revenues, he said, meet only about 25 percent of the Union Territory's budgetary requirements.

He said salaries, pensions and debt servicing account for nearly 60 percent of total expenditure, adding that the government was taking steps to rationalise spending and improve fiscal transparency.

Outlining revenue proposals for 2026–27, Omar said the government aims to expand social security while boosting competitiveness and infrastructure development.

He proposed reducing the rebate on high speed diesel by Rs 2 per litre, saying the move would help rationalise prices and encourage a gradual shift towards cleaner technologies while keeping diesel cheaper than in neighbouring states.

Omar said the Budget focuses on strengthening welfare measures, enhancing productivity and creating opportunities for youth and women, while maintaining fiscal prudence.

The overall approach, he said, seeks to balance relief with reform and growth with restraint.

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