J&K Moves from Debt State to Economic Growth, Says LG Sinha
Speaking at a press conference at the International Convention Centre (ICC) in Srinagar, Sinha said that Jammu and Kashmir had previously been recognized as a “debt State.” However, over the past five years, efforts have been directed at making the region self-reliant.
Reflecting on the last five years, Sinha described them as a period marked by peace, prosperity, and high hopes. He highlighted the record voter turnout of 58 percent in the Lok Sabha elections as a significant achievement.
The LG also mentioned that the Jammu and Kashmir budget passed in Parliament amounted to Rs 1.18390 crore, which is Rs 30,889 crore higher than the previous year.
According to Sinha, there has been notable improvement in several sectors, including power, agriculture, and infrastructure. He emphasized that there has been no increase in power tariffs over the past three years, and electricity rates in Jammu and Kashmir remain lower compared to Punjab, Himachal Pradesh, and Haryana. He also pointed out a 25 percent reduction in transmission and distribution losses.
Addressing the challenges faced by Jammu and Kashmir, Sinha referred to the 2014 floods and the COVID-19 pandemic as significant hurdles in infrastructure development.
He declined to answer questions about the security situation in the region. Also, he highlighted the turnaround of J&K Bank, which has shifted from being heavily indebted to becoming a profitable institution.
“Since the abrogation of Article 370 in 2019, Jammu and Kashmir has undergone a profound transformation. We have seen remarkable growth in tourism, significant improvements in electricity infrastructure, and a turnaround in the financial health of J&K Bank. These changes reflect a broader, positive shift across various sectors and underscore a period of substantial progress and development for Jammu and Kashmir.”
Earlier, Sinha led a ‘Tiranga rally’ in Srinagar, where thousands of people, including men and women carrying national tricolours, participated. The rally began at the Sher-i-Kashmir International Conference Centre (SKICC) and proceeded to the botanical garden on the banks of Dal Lake.(KNS).
