Jammu: The President of the Jammu Chamber of Commerce & Industry (CCI), Arun Gupta, has welcomed the Union Budget 2025, describing it as a major relief for the middle class and a boost for key sectors like agriculture, defense, education, and healthcare. However, he emphasized the need for a special focus on Jammu & Kashmir, particularly in the areas of MSMEs, tourism, and industrial growth.
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Gupta highlighted the significant relief for the middle class, especially the increase in the income tax exemption limit to ₹12 lakh annually. He said this move would bring financial ease to many families. Additionally, he pointed out the increase in the TDS threshold on rental income from ₹2.40 lakh to ₹6 lakh, which will benefit those dependent on rental earnings.
Speaking on the healthcare sector, he lauded the government’s decision to make the import of cancer medicines duty-free. He said this step would provide major relief to cancer patients by reducing the overall treatment costs.
Gupta appreciated the government’s continued push for ‘Make in India’, particularly in defense, railways, and manufacturing. He also pointed out the initiative to improve the quality of locally manufactured tires, reducing dependence on imports. In the education and healthcare sectors, the budget aims to modernize infrastructure by expanding broadband connectivity in schools and strengthening lab facilities in medical colleges. He welcomed the addition of 75,000 MBBS seats, which will significantly improve the availability of medical professionals in the country.
He also noted the government’s commitment to the ‘Jal Jeevan Mission’, which has been extended to 2028 to ensure that every household receives piped water. He praised the various provisions for agriculture and MSMEs, including the increase in credit limits for farmers from ₹3 lakh to ₹5 lakh.
While acknowledging the positive aspects of the budget, Gupta expressed concern that Jammu & Kashmir’s MSME sector remains neglected. He pointed out that despite raising the MSME investment limit from ₹10 crore to ₹20 crore, local industries in J&K struggle due to a lack of central and state support. He urged the government to introduce special packages to help these industries survive and grow.
The Chamber of Commerce president also appreciated the announcement of a new railway division in Jammu, calling it a crucial step for the region’s development. However, he stressed the need for further economic initiatives, particularly the establishment of a Public Sector Undertaking (PSU) unit in Jammu, which he believes is essential for the survival of local industries.
Gupta strongly advocated for the development of a major tourism project in Jammu, similar to the Statue of Unity in Gujarat. He stated that such an initiative would significantly boost footfall in Jammu and support local businesses. He expressed concern that Jammu might become another Pathankot, where tourists pass through without staying, leading to economic losses for local businesses, hoteliers, and transporters.
While recognizing the Union Budget’s balanced approach, Gupta urged the government to ensure that Jammu & Kashmir receives a dedicated package when its budget is announced separately. He called on both the Union and UT governments to work together to develop Jammu as a major business and tourism hub.
According to Gupta, every budget addresses key sectors like defense, education, health, and agriculture, but Jammu needs special attention to ensure sustainable growth. He reiterated that the government must focus on bringing a PSU unit and a large-scale tourism project to the region to enhance the local economy.
With these demands, the Chamber of Commerce & Industry hopes that Jammu & Kashmir will receive the attention it deserves in the upcoming J&K Budget.
