Jammu, Feb 1 (IANS) Jammu and Kashmir Lt Governor Manoj Sinha on Sunday hailed the Union Budget 2026-27, saying that it charts a path to a $5 trillion economy milestone within a few years, and added that the budget also takes the initiative to generate fresh employment opportunities and invigorate the tourism industry with renewed vigour.

L-G Manoj Sinha hailed the Budget 2026-27 as pragmatic, which he said will prioritise economic acceleration, create future-ready infrastructure, sustain growth momentum, chart a path to the $5 trillion economy milestone within a few years, and a comprehensive fiscal strategy will balance growth ambition with social welfare.

Expressing gratitude to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman on the development of ecologically sustainable mountain trails in J&K UT, the Lieutenant Governor said that the initiative will generate fresh employment opportunities and invigorate our tourism industry with renewed vigour.

“Budget for 2026-27 emphasises accelerating economic expansion, strengthening infrastructure, advancing manufacturing capabilities across 7 strategic sectors, while maintaining a steadfast commitment to welfare. It will have a transformative impact in burgeoning industries, renewed momentum for semiconductor advancement through India Semiconductor Mission (ISM) 2.0, and a substantial stride toward diminishing India’s reliance on other countries for rare earth elements with specialised rare earth zones,” the Lieutenant Governor said.

The Lieutenant Governor observed that with Artificial Intelligence, job creation and service sector enhancement taking centre stage, India’s competitive edge will strengthen across every economic domain, while this progressive financial blueprint will establish the foundation for comprehensive sectoral expansion and global prominence.

“Budget 2026-27 charts the path to a $5 trillion economy milestone within a few years and presents our ambitious vision to achieve developed economy status in less than two decades. The budget also promises unprecedented empowerment for youth, women, and farmers,” he said.

“With manufacturing, infrastructure, MSMEs, healthcare, urban advancement, electronics and supply networks forming the core of the future strategy to maintain the country’s economic momentum, I believe we will be able to expand domestic production and ensure substantial employment generation,” the Lieutenant Governor said.

–IANS

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