GNS ONLINE NEWS PORTAL
JAMMU FEBRUARY 01:-The BJP Professional Cell, Jammu & Kashmir, under the able guidance of Shri Ved Raj Sharma ji, Incharge of All Cells in J&K, and with the leadership of Convenor CA Deepak Kapahi, wholeheartedly welcomes the Union Budget 2026-27 presented by Finance Minister Nirmala Sitharaman today. This forward-looking budget, driven by Yuva Shakti and the three kartavyas —accelerating growth, building capacity, and Sabka Saath Sabka Vikas —reinforces India’s path to becoming a Viksit Bharat by 2047, with a strong emphasis on sustainable economic growth, job creation, and inclusive development.
The Professional cell observed that it will help in:- Robust Economic Focus : Sustained high growth, poverty reduction, and enhanced productivity amid global challenges, with capital expenditure raised to ₹12.2 lakh crore for infrastructure.
– Sectoral Boost : Scaling up manufacturing in strategic areas like semiconductors (India Semiconductor Mission 2.0 with ₹40,000 crore outlay), textiles, and MSMEs through a ₹10,000 crore SME Growth Fund and credit enhancements. Emerging technologies such as AI and quantum computing receive dedicated support.
– Taxpayer-Friendly Reforms : Introduction of the simplified Income Tax Act, 2025, effective from April 1, 2026, with redesigned forms for easier compliance. Extended timelines for ITR revisions to March 31 with nominal fee, staggered ITR filing deadlines for different type of assesses , reduced TCS rates on foreign remittances for travel, education, and medical purposes to 2%, simplified TDS rules including on manpower services, automated lower TDS relief for small taxpayers, exemption of interest on motor accident compensation, and a One-
Time Foreign Assets Disclosure Scheme for small taxpayers. Notably, reduced punishments for tax offences and rationalised penalties promote compliance without undue hardship.
– Employment Generation Focus : The budget prioritizes job creation through comprehensive reforms in labour-intensive sectors like textiles (Integrated Programme with skilling via Samarth 2.0 and employment schemes), MSMEs (champion enterprises and equity support), services (High-Powered ‘Education to Employment and Enterprise’ Standing Committee targeting 10% global share by 2047), healthcare (adding 100,000 Allied Health Professionals and caregiver training), animal husbandry (entrepreneurship and subsidies for veterinary facilities), and creative sectors (AVGC labs in schools/colleges). These measures, combined with infrastructure push and manufacturing revival, will significantly boost employment opportunities, empower youth, and drive inclusive growth.
– Special Benefits for Jammu & Kashmir : The budget prioritizes tourism development with ecologically sustainable mountain trails in J&K, alongside Himachal Pradesh and Uttarakhand. This initiative will enhance infrastructure, preserve the environment, and create local employment in guiding, conservation, and allied services, unlocking the region’s immense potential.
Shri Sat Sharma ji CA, President of BJP J&K, addressed the meet on telephone and remarked : “This budget is a testament to the visionary leadership of Prime Minister Narendra Modi, focusing on empowering every section of society and driving J&K towards prosperity.”
Shri Ved Raj Sharma ji, Incharge of All Cells in J&K, added: “The emphasis on MSMEs, infrastructure, and regional tourism will catalyze growth in Jammu & Kashmir, aligning with our party’s commitment to inclusive development.”
CA Deepak Kapahi, Convenor, BJP Professional Cell J&K, stated: “This budget exemplifies the Modi government’s commitment to empowering youth, farmers, women, and underprivileged communities. The tax simplifications, focus on MSMEs, and targeted employment measures will ease business operations, generate millions of jobs, and unlock opportunities for our youth, while J&K’s tourism push aligns perfectly with our vision for regional prosperity. We applaud these measures as a catalyst for equitable growth.”
Among other presented in the meeting were CA.Amit Gupta, Adv. Kuldip Sudan , Dr Virender Sambyal, CA. Jitesh Arora, CA. Ritesh Gupta.
Users Today : 468
Users Yesterday : 197