Budget and Public Finance
J&K is a UT with a legislature, so the Chief Minister (who also holds Finance) presents the budget.
Budget 2026-27 (presented 6 February 2026)
| Item | Figure |
|---|---|
| Presented by | CM and Finance Minister Omar Abdullah |
| Gross budget outlay | About Rs 1,27,767 crore (including advances and overdrafts) |
| Budgeted GSDP | Rs 3,15,822 crore (+9.5%) |
| Revenue expenditure | Rs 80,640 crore |
| Capital outlay (PRS) | Rs 25,236 crore (+4% over revised 2025-26) |
| Fiscal deficit target (PRS) | 4.6% of GSDP (Rs 14,685 crore); revised 2025-26 estimate was 4.9% |
| Committed expenditure | Rs 52,743 crore = 59% of revenue receipts |
| Interest payment / salaries (revenue) | About Rs 12,283 crore / Rs 24,683 crore |
Where the money comes from
- Grants-in-aid from the Centre: 56 to 66% of total resources.
- Own revenue (tax plus non-tax): about 22 to 24%.
- Borrowings and other receipts: 10 to 19%.
- Budget 2026-27 (reported): own revenue about Rs 31,800 crore; Central assistance about Rs 42,752 crore plus Rs 13,400 crore under Centrally Sponsored Schemes.
Own revenue (Economic Survey 2025-26)
| Item | Figure |
|---|---|
| Own revenue FY 2024-25 | Rs 21,121 crore (tax Rs 14,249 crore, non-tax Rs 6,872 crore) |
| Own revenue FY 2025-26 up to November | Rs 13,521 crore (tax Rs 9,136 crore; non-tax Rs 4,386 crore) |
| GST share of tax revenue (2025-26) | 58.88% |
| Taxes on power | Rs 2,716 crore (2021-22) to Rs 4,908 crore (2024-25), up 80.71% |
| GST collection growth 2021-22 to 2024-25 | 34.28%; excise 27.42% |
| Power tariff share in non-tax revenue | 56% to 71% since 2021-22 |
| Salary and pension | 52.42% of revenue expenditure |
Debt
In 2024-25, public debt was about 69% of total liabilities, internal (market) debt 68%, Provident Fund about 19%. Over a decade, market borrowing rose from about 55% to 68% of liabilities.
Digital finance reforms
BEAMS (budget and expenditure), e-Stamping, e-Abgari (excise), GeM (local firms got about 65% of orders), Pension Suvidha portal, JanBhagidari/Empowerment and PROOF (geo-tagged progress tracking).
Keep practising
Notes are only half the work. Test yourself with questions and discuss doubts with other aspirants.
Prepared for exam revision from the J&K Economic Survey 2025-26, J&K Budget 2026-27, PRS Legislative Research, NITI Aayog and replies in Parliament and the Legislative Assembly. Figures are advance estimates or latest available and official replies sometimes differ, so check the latest Economic Survey and Budget before relying on them. Found a mistake? Tell us.