JK GDP increases from Rs 1.6 Lakh Crore to Rs 2.64 Lakh Crore in 4-5 Years: LG Sinha

JK GDP increases from Rs 1.6 Lakh Crore to Rs 2.64 Lakh Crore in 4-5 Years: LG Sinha

Asif Iqbal | February 11, 2024 | 05:51 PM IST | Jammu Kashmir | Follow on Google News

JK GDP increases from Rs 1.6 Lakh Crore to Rs 2.64 Lakh Crore in 4-5 Years: LG Sinha.image/RK

JK GDP increases from Rs 1.6 Lakh Crore to Rs 2.64 Lakh Crore in 4-5 Years: LG Sinha

Lieutenant Governor Manoj Sinha of Jammu and Kashmir highlighted the positive impact of reforms implemented over the past four to five years, indicating substantial growth in the region’s GDP. He noted that the GDP of J&K rose from Rs 1.6 lakh crore in 2018-19 to Rs 2.64 lakh crore in 2021-22, attributing this progress to the efficient implementation of reforms.

Sinha expressed confidence in J&K’s trajectory towards good governance, development, and peace due to these transformative measures. Responding to questions about reservations for Scheduled Castes (SCs), he acknowledged the political maneuvering around the issue, stating that while some may engage in such politics, the administration remains focused on its responsibilities.

The LG also highlighted the turnaround of J&K Bank, previously facing a Rs 1200 crore loss, now turning into a profitable institution with Rs 1300 crore in profit. He projected further growth, aiming for a profit of Rs 1800 crore in the coming year. Sinha acknowledged the challenge of repaying a substantial power debt of Rs 28000 crore inherited by the present administration.

Regarding the recent budget vote in the parliament for J&K, Sinha emphasized the improved economic condition of the union territory. He shared that efforts have been made to enhance capital expenditure and reduce revenue expenditure, with capital expenditure witnessing a significant increase from Rs 11000 crore to Rs 38000 crore.

Responding to inquiries about the relocation of the United Nations Military Observers Group of India and Pakistan (UNMOGIP) office in Srinagar, Sinha mentioned that the matter would be examined. Considering J&K’s full integration into the Union of India, the LG expressed willingness to explore the issue of the UN office’s presence in Sonwar, Srinagar, in light of the region’s zero tolerance against terrorism and increased display of the Indian flag.

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.