J&K Budget Session: CM Omar Abdullah Tables CAG Financial Reports and Moves to Decriminalize Business Laws

JAMMU APRIL 02, 2026Chief Minister Omar Abdullah spearheaded a dual legislative agenda during today’s Budget Session of the Legislative Assembly, focusing on fiscal transparency and regulatory reform.

In a major step toward enhancing the investment climate in Jammu and Kashmir, the Chief Minister introduced L.A. Bill No. 07 of 2026, a comprehensive piece of legislation designed to decriminalize and rationalize various minor offences across multiple enactments.

The Bill aims to improve both “ease of living” and “ease of doing business” by removing the threat of criminal penalties for administrative lapses and repealing obsolete laws that hinder economic growth.

Having already been published in the Official Gazette, the Bill represents a significant shift toward a more modern, industry-friendly regulatory framework.

Alongside these business reforms, the Chief Minister also addressed the Union Territory’s fiscal accountability by laying the latest Comptroller and Auditor General (CAG) reports on the Table of the House.

The tabled documents include the CAG Report on Union Territory Finances for the year 2023–24 (Report No. 01 of 2025) and the subsequent report for the year 2024–25 (Report No. 02 of 2026).

These reports provide an exhaustive audit of J&K’s financial health over the last two fiscal cycles, offering the Assembly a clear look at revenue management, expenditure, and debt profiles.

By presenting these audits and the decriminalization bill simultaneously, the government has signaled its intent to pair administrative flexibility with strict financial oversight.