Business
CM Omar Abdullah presents Rs 1,13,767 crore budget in J&K Assembly; focusing on investment, innovation
Jammu, Feb 6: Jammu and Kashmir Chief Minister Omar Abdullah tabled a Rs 1,13,767 crore budget for 2026-27 in the Legislative Assembly on Friday, saying the financial plan aims to lay a strong foundation for sustainable growth, social harmony and economic prosperity in the union territory.
He said his government is committed to transforming the UT into a modern, progressive and economically vibrant region by promoting investment, innovation and participatory governance.
“With deep humility and unwavering resolve, I rise today to present my second Budget as Finance Minister. It is a privilege to be entrusted with the responsibility of shaping the financial future of our land,” CM Abdullah said while presenting the Budget.
Describing the Budget as a roadmap for development, he said, “This Budget is not merely a ledger of figures, it is a fiscal compass charting our path towards a brighter horizon. It lays strong foundations for enduring economic growth, social harmony and sustainable prosperity.”
The chief minister urged members of the House to work collectively for the region’s development.
“As we embark on this shared journey, I invite every honourable member of this august House to come together and work collectively to build a strong and flourishing Jammu and Kashmir,” he said.
Highlighting the resilience of the people, CM Abdullah, who also holds the UT’s finance portfolio, said his government is committed to transforming Jammu and Kashmir into a progressive and economically vibrant region.
“Together, we will turn obstacles into stepping stones and aspirations into achievements,” he added. The chief minister said the government is focused on creating a business-friendly ecosystem to attract investment and innovation.
He said the Budget was prepared after wide consultations with elected representatives, industry leaders, and stakeholders to ensure it remains people-centric.
Referring to challenges faced in the past year, the CM said geopolitical factors, the Pahalgam terror attack and devastating floods in parts of the Jammu region adversely impacted economic activity.
“All sectors, including tourism, handicrafts, horticulture and agriculture were badly affected, leading to job losses and financial distress for families,” he said.
Omar Abdullah said the Budget focuses on inclusive and sustainable growth through strategic investments in infrastructure, public services and governance.
He added that the government aims to create opportunities for youth and women. Flagging fiscal constraints, the chief minister said own tax and non-tax revenues meet only about 25 per cent of the UT’s budgetary requirements.
The CM said revenue collections stood at Rs 10,265 crore from taxes and Rs 4,964 crore from non-tax sources till December 31, 2025. The chief minister said nearly 60 per cent of the overall expenditure is committed towards salaries, pensions and debt servicing, adding that the government is taking steps to manage debt and curb non-priority spending.
“We are strengthening debt sustainability by keeping borrowings within approved limits and improving liquidity management. For the third consecutive year, austerity measures have been enforced,” he said.
He said reforms in the power sector, including expansion of the consumer base and execution of loss reduction works, are being undertaken to ease financial stress.
The CM also acknowledged the Centre’s support in addressing fiscal challenges.
“The Central government has remained cognizant of our difficulties and consistently supported us through special assistance,” he said, adding that Jammu and Kashmir has been brought under the Special Assistance to States for Capital Investment scheme.
The chief minister said the funds under the scheme would be utilised for infrastructure development, hydroelectric projects, and disaster mitigation works, particularly in flood-affected areas.
The chief minister said a roadmap would be announced in the coming months for the regularisation of daily wage workers, whose contribution and services to J&K were lauded by him.
Highlights of the Budget:
-Over 3.21 lakh houses completed under PMAY, 14,000 more under construction
-International film festival in 2026
-2,963 women become ‘Lakhpati Didis
New cultural centres across J&K
New framework for MSMEs
Two Ayush hospitals next financial year
AIIMS Kashmir commissioning in 2026
200 new e-buses announced
Expanded PET scan and mobile medical units
Vocational education in 554 schools
Business
Navi Mumbai Airport expands multimodal transport network ahead of winter flight schedule

Ahmedabad, Oct 5: Navi Mumbai International Airport (NMIA) is strengthening its public transport and ground mobility infrastructure ahead of the Winter Schedule 2026-27, with a wider network of buses, taxis, autorickshaws, car rentals, and airport shuttles aimed at improving connectivity across Mumbai, Navi Mumbai, Pune and the wider Mumbai Metropolitan Region, it was announced on Monday.
The airport, operated by Adani Airport Holdings Limited (AAHL), is preparing for the Winter Schedule that will run from October 25, 2026, to March 27, 2027.
As part of the expansion, the Maharashtra State Road Transport Corporation (MSRTC) will launch e-Shivai electric bus services from NMIA on October 7.
The first phase of MSRTC services will connect the airport with Dadar, Borivali and Pune. Fares from NMIA have been set at Rs 450 for Pune, Rs 210 for Borivali, and Rs 170 for Dadar East. Children below 12 years and women travelling with a National Common Mobility Card will be eligible for a 50 per cent fare concession.
The Dadar-NMIA service will operate through Sion and Atal Setu, while the Borivali-NMIA route will connect CSMIA Terminal 1, Bandra, and Atal Setu. The Pune route will have two daily services, with one operating in the morning and another in the afternoon. MSRTC also plans to introduce services connecting NMIA with Thane and Nashik by mid-November.
Private bus operator Chalo Bus is already providing 21 daily services connecting NMIA with Marol in Andheri East, Bandra, Dadar, and the World Trade Centre in Colaba. The operator is also adding capacity during peak periods to cater to passenger and airport employee movement.
Within Navi Mumbai, Navi Mumbai Municipal Transport (NMMT) is operating seven dedicated airport routes, A1 to A7, linking Terminal 1 with Kharkopar, Targhar, Belapur, Nerul, Panvel, Khandeshwar and the Airport Project Office. Services between Belapur and Nerul are available every 15-20 minutes during peak hours, while further connectivity to Vashi and Panvel is planned.
The airport is also expanding taxi and last-mile connectivity. Uber Go and Uber Premier will provide app-based cab services, while Uber Auto will cater to passengers seeking on-demand autorickshaw services for shorter journeys. Prepaid taxi and autorickshaw facilities, along with car rental services, are also being introduced at the airport.
Bharat Taxi is scheduled to begin operations at NMIA from October 10 with a dedicated fleet of up to 40 vehicles, adding another option for passengers travelling to and from the airport.
A complimentary inter-airport shuttle service is also being introduced between NMIA and Chhatrapati Shivaji Maharaj International Airport (CSMIA). Operated by Cityflo, Aarya and Chalo, the shuttle will run every hour and provide passengers with a direct transfer option between Mumbai’s two airports.
Overall ground transport capacity at NMIA is being scaled up to 4,594 vehicles and services, including 3,787 app-based taxis, 184 car rentals, 171 autorickshaws and 547 buses. The airport is also deploying mobility signage, improved wayfinding systems and on-ground passenger assistance, with designated areas for buses, shuttles, arrivals, departures and private vehicles.
Business
Indian markets open higher amid positive global cues; PSU bank stocks lead

Mumbai, Oct 5: Indian equity benchmarks opened sharply higher on Monday, tracking gains across Asian markets after softer-than-expected US jobs data tempered expectations of an immediate Federal Reserve rate hike.
Nifty opened at 22,532.40, an increase of more than 100 points or 0.49 per cent.
Similarly, Sensex began the trading session up over 400 points or 0.6 per cent at 72,340.95.
Moreover, the broader market sentiment was positive with most sectoral indices trading in the green in early deals. Nifty PSU Bank, Nifty Media, and Nifty Metal gained up to 1 per cent.
Nifty Realty advanced 0.93 per cent, while Nifty Chemicals, Nifty FMCG and Nifty Oil & Gas gained between 0.8 per cent and 0.85 per cent.
Nifty Private Bank and Nifty Consumer Durables were also trading higher in morning trade. While Nifty IT, Nifty Auto and Nifty Pharma were seen flat.
On the other hand, healthcare stocks were only trading marginally lower as Nifty 500 Healthcare and Nifty Healthcare Index declined 0.07 per cent and 0.12 per cent, respectively.
Market experts said markets could see a near-term rebound after eight consecutive weeks of declines.
However, elevated crude oil prices, high US bond yields and continued foreign institutional investor selling remain key headwinds, they said.
“Valuations have turned attractive, particularly for large-caps,” the experts said and added that the market may be better placed to withstand the prevailing headwinds.
Positive September automobile sales data also point to continued resilience in the domestic economy, according to them.
The Reserve Bank of India is widely expected to raise its policy rate by 25 basis points on Wednesday with the move largely priced into the market, according to the experts.
Banks could benefit from the rate hike as higher floating lending rates may support margins, they added.
In addition, foreign institutional investors (FIIs) remained net sellers in the previous trading session with a net outflow of Rs 9,484 crore, while domestic institutional investors (DIIs) continued to provide support with net purchases of Rs 10,041 crore.
Additionally, crude oil prices eased with international benchmark Brent crude trading nearly 1 per cent lower at $101.27 a barrel.
Business
Piyush Goyal highlights India’s growing strengths as global hub for talent, innovation

New Delhi, Oct 3: Commerce and Industry Minister Piyush Goyal on Saturday said he highlighted India’s growing strengths as a global hub for talent, innovation and business services, and the potential for deeper India-US business partnerships.
During his US visit, the minister met several global leaders and CEOs.
“Met Greg Case, CEO of Aon, and discussed the company’s operations in India and the opportunities for further expansion,” Goyal posted on social media platform X.
He also met Paul Grewal, Chief Legal and Global Affairs Officer at Cognition, and exchanged views on leveraging Cognition’s pioneering AI solutions and deepening its presence in India.
“Highlighted how India’s rich engineering ecosystem and dynamic startup culture provide a strong launchpad for building and deploying next-generation technologies for the world,” said Goyal.
During an engaging interaction with the Institute of Chartered Accountants of India (ICAI) leadership and members from Chicago, Michigan, and Ohio Chapters, the minister discussed the expanding opportunities in the India-US economic partnership and “highlighted how India’s economic momentum, marked by record FDI inflows and strong GDP growth, reflects PM Narendra Modi’s vision of a confident, self-reliant and globally competitive India”.
“Chartered Accountants have a pivotal role in strengthening this partnership by helping businesses navigate cross-border taxation, regulatory compliance and financial governance, while making Indian enterprises investment-ready for global capital,” the minister noted.
Goyal also delivered the keynote address at the USIBC Roundtable in Chicago.
“Discussed venture investment, commercialisation, and corporate partnerships to help Indian and US startups scale across markets. Explored opportunities to deepen India–US innovation linkages and foster the next generation of high-growth enterprises,” Goyal said.
He met Juan Ricardo Luciano, Chair of the Board and CEO of Archer Daniels Midland (ADM).
They discussed avenues to expand ADM’s presence and investment opportunities in India.
“With our rapidly expanding food processing sector, modernising agricultural value chains, and massive consumer base, India offers tremendous potential for sustainable growth and long-term collaboration,” said Goyal.
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