Srinagar, Feb. 2 -- The budget allocation had a mixed response in J&K with Opposition criticising it as peanuts, more security and administration oriented than development while the BJP hailed it for being aimed at stability and inclusive growth. Lieutenant governor Manoj Sinha termed the budget 2026-27 as pragmatic, saying it will prioritise economic acceleration, create future-ready infrastructure, sustain growth momentum and chart path to $5 trillion economy milestone within a few years. He said the initiative would generate fresh employment opportunities and invigorate the tourism industry besides adopting a comprehensive fiscal strategy that would balance growth ambition and social welfare. However, J&K minister Satish Sharma criticised the quantum of allocation, saying that it was "peanuts" and insufficient to meet its developmental requirements. "The Centre should have granted at least Rs 50,000 crore," Sharma told reporters in Jammu. J&K Congress president Tariq Karra said the budget allocation for J&K was a nominal increase than the previous one. "Instead of a 10% natural step-up every year, J&K has got only a 4.72% nominal rise which barely keeps pace with inflation," Karra said. He said that administrative and security spending is expanding, while development and social sectors are pushed to the margins. Congress leader Salman Soz said, "The focus was more on coming up with catchy names of schemes than thinking about a strategy to deploy the resources judiciously to leverage vast private funding (both domestic and international) in support of key industries." Firdous Tak, spokesperson of the Peoples Democratic Party (PDP), said the allocation, though appearing substantial, is overwhelmingly composed of routine central assistance and high security-related expenditures rather than genuine investment aimed at transforming the UT's economic landscape. BJP's J&K spokesperson Altaf Thakur said the budget allocation reflected PM Modi's commitment to the UT. Rahul Sahai, chairman of the Indian Chamber of Commerce and Industries in J&K, said the Union budget is progressive and sustainable for the country as a whole but it failed to meet the UT's expectations as a conflict-affected region. Sahai said that the J&K industry had expected greater financial support, particularly for the MSME sector. Arun Gupta, president of the Jammu Chamber of Commerce and Industries (JCCI), said the additional allocation of Rs 2,000 crore is a direct message that its focus is on UT's development....