- ‘Repaid ₹28,000 Cr In Power Dues, J&K Getting Cheapest Power‘
- Says J&K Bank Turned From Rs 1,139 Cr Loss To Rs 1,700 Cr Profit
Srinagar- Stating that Jammu & Kashmir has witnessed significant progress and development, Lieutenant Governor Manoj Sinha on Monday said that administration has increased the Union Territory’s revenues, reduced wasteful expenditure and improved fiscal transparency.
Addressing a news conference on J&K’s 2024-25 budget, the LG said the reforms and initiatives coupled with judicious welfare measures and infrastructure development have helped GDP of J&K to double from Rs 1.17 lakh crore in 2015-16 to Rs 2.45 lakh crore in 2023-24. “The GDP is expected to touch Rs 2.63 lakh crore in 2024-25,” he said.
He said it is heartening to see that doubling of J&K’s economy during 2013-2024 was achieved by overcoming enormous challenges due to massive floods in Kashmir, incessant efforts of sponsored terrorism and the economic shock of COVID-19 pandemic.
He said the Union government has acknowledged these improvements in financial management of the UT government. “Accordingly, in the current financial year 2024-25, the Union Government has approved a special assistance package of Rs 17,000 crore for Jammu and Kashmir,” he said, adding that the central government has decided to take the financial burden of J&K police for which an allocation of Rs 12,000 crore has been made.
Spelling out priorities of his administration, Sinha said the UT government has focused on project execution, increasing revenue and reduction of A&TC losses. “As we all know, in the past Jammu and Kashmir faced challenges in fiscal management due to the unabated pressures of externally sponsored terrorism,” he said, adding that the high levels of committed expenditure and ATC losses in power sector had accentuated these challenges.”
Sinha said his administration has made strenuous efforts for enhancing revenue generation in the UT. “Tax revenues have increased from Rs 12,753 crore in 2022-23 to Rs 13,900 crore in 2023-24 registering growth of 9%. GST collection increased by 12% and excise collection increased by 39% in FY 2023-24 as compared to FY 2022-23,” he said, adding that the UT government improved GST return compliance, initiated e-Stamping system, expanded dealer registration and conducted transparent excise auctions.
Speaking on the 2024-25 budget, the LG said that the budgetary allocation of the UT for the current fiscal is Rs 30,889 crore more than the expenditure of the last fiscal.
“The size of the budget 2024-25 is Rs 1,18,390 crore. It is Rs 30,889 crore higher than the expenditure of 2023-24,” he said.
The LG said that they got huge power purchase liabilities worth Rs 28,000 crore in legacy. “We have been able to repay it. I also want to put it on record that J&K people are getting the cheapest power and there has been no hike in the past three years,” the LG said, adding that people have to pay for the government services they avail.
The LG said the complete turnaround of J&K Bank also reflects the accelerated growth and strengthened foundations of J&K’s economy. “During last four years from a loss of Rs 1,139 crore in 2019-20, the bank has reported a profit of Rs 1,700 crore in 2023-24, the NPA has been reduced from 11 percent to current level of 5 percent. The Bank is focusing its efforts to improve professionalism, efficiency and transparency in its business operations,” he added.
Urges Against Backing Peace Disruptors In J&K
Lieutenant Governor Sinha has urged the people of Jammu and Kashmir not to support those who were detrimental to peace and development.
Describing the abrogation of Article 370 and Article 35A as a historic change, he also claimed half the population would have continued to be denied their rights without this move.
“I want to tell the people not to empower or strengthen elements that are detrimental to peace and development,” Sinha told PTI Videos in an interview on Sunday.
Sinha was responding to a question about his message to the people in light of criticism from some political parties regarding jailed leader Engineer Rashid’s election to Parliament and concerns that it could lead to increased separatism in democratic politics.
“It is true that such elements have reached Parliament. The country knows them and we know them too. I urge voters, who have total freedom in a democracy, to make decisions with national interest in mind,” he said.
Rashid was sworn in as a member of the 18th Lok Sabha following his victory from the Baramulla constituency, where he defeated National Conference vice-president Omar Abdullah by more than two lakh votes.
The Independent MP was arrested in a 2017 terror-funding case.
The lieutenant governor further said the administration would take necessary steps to prevent such individuals from advancing in politics.
Sinha also termed the abrogation of Article 370 and Article 35A as the beginning of a historic era of peace and development.
In 2009, the Narendra Modi government annulled the articles that granted special rights to the-then Jammu and Kashmir state, which was also divided into two Union territories.
“The abrogation of Article 370 was historic. It has begun a new chapter of peace and development in Jammu and Kashmir. We have tried our best to ensure that Jammu and Kashmir is at the forefront, that every individual’s aspirations are fulfilled, and, most importantly, that stability is established here,” he said.
The lieutenant governor noted that the administration had achieved significant success in this regard.
“The era of discrimination has completely ended. Marginalised communities such as refugees from (erstwhile) West Pakistan, Valmikis, Dalits, tribals, and particularly women, have been granted their rights. If Article 370 had not been abrogated, more than 50 per cent of the population here would not have received their rightful entitlements,” he said. “This is a major transformation.”
Sinha also took a dig at political leaders who criticised the government on the issue.
“This country runs by the Constitution and my constant expectation from those who have taken an oath to uphold it is that they understand why a new era has begun,” he said.
The lieutenant governor also claimed that the administration had made strides in controlling corruption.
“I am not saying that corruption has been entirely eradicated but we have taken significant steps to control it. Jammu and Kashmir has the highest number of online services in India and our tax collection has also increased considerably,” Sinha said.
He claimed that the pace of work had increased tenfold and the administration was actively working to address the people’s issues and aspirations.
“Capital expenditure in Jammu and Kashmir has increased substantially, with work ongoing on roads and other projects worth lakhs of rupees. Rail and road connectivity in Jammu and Kashmir has improved significantly and further work is underway,” he said.
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