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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