The Jammu and Kashmir Budget 2026–27, presented by Chief Minister Omar Abdullah, has elicited a wide spectrum of responses from political parties, industry bodies, and traders, reflecting both optimism and cautious critique. While the government lauds the budget as progressive, fiscally prudent, and development-oriented, stakeholders are carefully weighing its promises against ground realities. Political reactions have been predictably diverse. Supporters highlight the government’s commitment to infrastructure development, enhanced allocations for health, education, power, and rural livelihoods, and special emphasis on agriculture and tourism. The inclusion of Jammu & Kashmir under the Special Assistance to States for Capital Investment (SASCI) scheme has been welcomed as a long-overdue financial support that could accelerate developmental projects. Chief Minister Omar Abdullah has repeatedly emphasized that the budget prioritizes relief for the poor, timely welfare payments, and measures to stabilize the agrarian economy. However, opposition parties have expressed reservations. They argue that while allocations may appear robust on paper, the execution and timely utilization of funds remain a challenge, particularly in the context of frequent natural calamities and lingering security concerns. Some lawmakers have also criticized the government for not addressing long-standing issues such as unemployment and industrial bottlenecks more decisively. The ongoing debate over the regularization of daily-rated and casual workers has further fueled discussions on the budget’s effectiveness in promoting social equity. From the business perspective, industry bodies like the Chamber of Commerce and Industries Kashmir (CCIK) and the Federation of Chambers of Industries Kashmir (FCIK) have offered measured praise. They appreciate the focus on capital expenditure, industrial policy amendments, and support for MSMEs, recognizing the potential for job creation and economic revival. Yet, concerns remain about rising power costs, lack of turnover-linked incentives, and the need for a comprehensive industrial framework that provides certainty and long-term support to both existing and new enterprises. Traders and entrepreneurs also seek clarity on policy continuity, tax reliefs, and infrastructure implementation to ensure that investments translate into tangible growth. Overall, the mixed reception to the J&K Budget underscores a critical reality: while the government has crafted a roadmap for fiscal prudence and balanced development, the success of these measures hinges on execution, transparency, and sustained stakeholder engagement. The budget may have laid a strong foundation, but its impact will ultimately be judged by how effectively it improves livelihoods, strengthens industries, and addresses socio-economic challenges across the Union Territory.