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Why Kashmir Still Can’t Fund Itself
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Kashmir Observer
That single fact should colour how anyone reads a state budget this year, and Jammu and Kashmir’s 2026-27 accounts belong squarely inside that larger story.
The FRBM (Fiscal Responsibility and Budget Management) review committee once proposed a 20 per cent ceiling on state debt.
The 16th Finance Commission tabled its report in Parliament on February 1, 2026, covering the award period from 2026-27 through 2030-31.
J&K’s fiscal future now depends on an institution with no statutory reason to look closely at it.
The 16th Finance Commission flagged this exact problem nationally, linking state fiscal stress to unresolved power-sector losses and recommending subsidy sunset clauses tied to utility reform.