Srinagar, Feb 07, KDC: President, Confederation of All India Traders (CAIT), Kashmir Chapter, Farhan Kitab said that while the J&K Budget 2026-27 lays emphasis on infrastructure development, tourism revival, MSME facilitation and capital investment, it has fallen short of addressing the immediate and pressing concerns of the retail trade sector.
He said that retail trade, which is among the largest employment generating sectors in Jammu & Kashmir, continues to face prolonged slowdown, weak consumer demand, rising operational costs and a noticeable decline in GST collections, particularly in urban markets.
“This budget may help stabilise the overall environment around retail trade, but it will not revive the retail sector on its own. Revival requires targeted interventions such as GST rationalisation, easier access to credit, tax relief and urban market specific policies,” Farhan Kitab said.
While acknowledging that initiatives related to ease of doing business, MSME support and tourism promotion may provide some indirect relief, he stressed that retail cannot be treated as a spillover beneficiary. “Retail reflects the real pulse of consumer confidence and ground-level economic activity. Ignoring it weakens the entire economic recovery process,” he added.
The CAIT President urged the Government to initiate immediate consultations with retail trade bodies and announce a dedicated, trader-centric package to restore confidence, protect livelihoods and revive traditional markets across Jammu & Kashmir.
He reiterated that CAIT Kashmir remains committed to constructive engagement with the Government in framing practical, trader friendly policies to ensure sustainable growth and economic stability in the Union Territory. (KDC)
