Srinagar, Feb. 3 -- There was a mixed response in Jammu and Kashmir to the Rs.41, 000.07 crore budget proposed for it for FY 2025-26.While people, especially the middle class, welcomed the Centre's decision to provide income tax exemption up to Rs.12 lakh, there was widespread disappointment expressed over the drop in central government assistance for the UT.Compared to the FY 2025-26 allocation, J&K was allocated Rs.42, 277 crore in FY 2024-25 and Rs.41, 604 crore in FY 2023-24.This year's budget allocation is the first for an elected government in J&K after a gap of six years.By and large, traders and local chambers of commerce and industry reacted positively to the proposals, particularly with regard to initiatives like relief on taxes...