The Biz Reporter
Srinagar, Mar 8: Kashmir Traders & Manufacturers Federation (KTMF) acknowledges the budget presented by Chief Minister and Finance Minister Omar Abdullah and welcomes the government’s initiatives aimed at providing relief to the common people.
In a statement issued, KTMF President Mohammad Yaseen Khan said several key measures, such as 200 free electricity units, 10 kg free ration, free travel for women, stamp duty relief, and enhanced marriage assistance reflect an effort to address the pressing needs of economically weaker sections of society.
Khan who also heads Kashmir Economic Alliance(KEA) said,while we welcome these initiatives, the federation believes that the budget could have done more to address the concerns of the trading and business community. Over the past years, businesses in Jammu & Kashmir have faced multiple challenges, including economic disruptions, declining market confidence and financial constraints. This budget was expected to introduce specific measures to revive local trade, support small businesses, and provide relief to industrial sectors, but it falls short in these areas. Many businesses are still struggling with financial constraints, and the absence of tax relaxations, interest subsidies or special loan schemes has left traders disappointed. Additionally, the business community was expecting reforms in banking support, credit access and GST compliance relief, but these expectations have not been met.
Khan said, “another key issue is the need for infrastructure development and market expansion. While stamp duty relief is a welcome step, more needs to be done to modernize markets, improve digital trade access and create export opportunities for local businesses. Without such initiatives, the region’s economic potential remains untapped.
KTMF urges the government to consider a supplementary policy package focused on economic growth and trade development. While social welfare is important, sustainable development comes from a strong business ecosystem that generates employment and revenue. The federation calls for pro-business policies, financial relief for struggling traders and initiatives to promote Kashmir’s traditional industries like handicrafts and horticulture.
