Srinagar, Jan 23 (KNO): As part of the pre-budget consultations convened by the Jammu & Kashmir Government, representatives from trade, tourism and industry sectors submitted their key suggestions to Chief Minister Omar Abullah on Friday.
President of Kashmir Chamber of Commerce and Industry (KCCI) Javid Ahmad Tenga, who attended the meeting, while talking to the news agency—Kashmir News Observer (KNO) said, “The Chamber has prioritised crop insurance, power tariff amnesty for commercial units and infrastructure support for sports and tourism as its main recommendations for the upcoming Budget.”
“We are expecting the government to consider crop insurance and amnesty for power dues of commercial units,” Tenga said, adding, “There has been little business activity in the tourism sector. The Chief Minister has assured us that aggressive promotion will be undertaken across the country. We hope this year tourism will flourish in Kashmir.”
KASHMIR TRADERS AND MANUFACTURERS FEDERATION
Separately, the Kashmir Traders and Manufacturers Federation (KTMF), led by its President Mohammad Yaseen Khan, submitted a detailed pre-Budget memorandum seeking urgent fiscal and structural support for the trade and retail sector.
The Federation highlighted liquidity constraints, high operational costs, regulatory hurdles and seasonal slowdowns affecting small and medium traders. KTMF urged the government to provide interest subvention on working capital loans, a trader-friendly One-Time Settlement (OTS) scheme and measures to prevent coercive recoveries from genuine borrowers.
The Federation also called for Market Fire Safety and Fire-Affected Traders Relief Fund, parking infrastructure improvements and clear rehabilitation policies for traders displaced by urban and road projects.
FEDERATION OF CHAMBERS OF INDUSTRIES KASHMIR
The Federation of Chambers of Industries Kashmir (FCIK), representing the Valley’s industrial sector, flagged regional and sub-regional imbalances in industrial infrastructure, particularly the shortage of developed industrial land in North Kashmir and hilly regions.
The FCIK proposed a three-pronged MSME revival strategy, including loan restructuring under GO 47-IND/RBI framework, a dedicated MSME Asset Reconstruction Company and a government-led one-time settlement for stressed units.
A source present at the meeting, told KNO the shift and pitch from trade bodies, KCCI, KTMF and FCIK focused on reviving trade and tourism, supporting MSMEs, correcting structural imbalances and promoting inclusive growth in Jammu & Kashmir
The FCIK also called for a public procurement overhaul to ensure local MSMEs have real market access, along with GST reimbursement on value addition, interest subvention and regulatory exemptions.
The chamber urged mission-mode implementation of the Holistic Agriculture Development Programme (HADP), power amnesty and non-intrusive revenue measures such as road tolls, green cess, and PPP-led infrastructure development.
Stakeholders expressed optimism that the forthcoming J&K Budget 2026–27 would reflect these recommendations, reviving trade confidence, boosting tourism, supporting MSMEs and fostering inclusive growth across the Union Territory—(KNO)