KASHMIR HEADING IN THE RIGHT DIRECTION
Jammu and Kashmir is the Union Territory of India located in northern part and a global tourist destination. In addition to traditional recreational tourism, a vast scope exists for adventure, pilgrimage, spiritual, and health tourism. J&K has an industrial policy that offers attractive incentives along with a single-window clearance mechanism. Land is allotted at concessional rates in industrial areas on lease for 90 years. The economy of the region is primarily services based and agriculture oriented. The full potential of economy in Jammu, Kashmir and Ladakh regions could not be realised for the last 70 years as the people in the state have suffered from terrorist violence and separatism. On August 5, 2019 the removal of Article 370 to take away Jammu and Kashmir’s special status and proposed bifurcation of the state into two Union Territories Jammu and Kashmir and Ladakh was a far-reaching decision that seeks to redraw the map and future of a region at the centre of protracted violence by terrorist supported by Pakistan.
If we analyse the economy of Jammu and Kashmir for last eight years, The Gross State Domestic Product grew at Compound Annual Growth Rate of 10.30 per cent during 2011-12 to 2018-19. The Gross State Domestic Product has grown at 11.71 per cent in 2018-19 to reach Rs 1.17 trillion. The Union Territory’s National State Gross Domestic Product increased at Compound Annual Growth Rate of 10.02 per cent from 2011-12 to 2017-18. The Jammu and Kashmir’s National State Gross Domestic Product was Rs 1.34 trillion in 2018-19. The analysis shows that the economy of Union Territory is steadily increasing.
Before the abrogation of Article 370, under the Rs 80,068 crores Prime Minister’s package announced on November 7, 2015, 63 major development projects in various sectors like road, power, health, tourism, agriculture, horticulture and skill development were underway. After the abrogation of Article 370, Jammu and Kashmir Infrastructure Development Finance Corporation Limited a newly created government undertaking body in the finance department, 593 projects sanctioned with Rs 1,313.24 crore earmarked for roads and bridges. The projects include 380 roads at a cost of Rs 867.26 crore, 198 bridges with a balance cost of Rs 413.38 crore, and 15 buildings worth Rs 32.6 crore. So far, it has completed 111 projects, including 50 roads, 56 bridges and five buildings. A total of Rs 221.74 crore has been earmarked to complete the pending projects. The government has created a special fund to see that projects abandoned halfway for want of funds are back on track.
The Army’s Border Roads Organisation has also helped in infra development in the state. The BRO has executed about 30 per cent more works in 2019-20 as compared to 2018-19.The annual budget of the Border Roads Organisation that varied from Rs 3,300 crore to Rs 4,600 crore from 2008 to 2016, witnessed a substantial rise to Rs 8,050 crore in 2019-2020. With the government’s focus on improving infrastructure in border areas, the budget for 2020-2021 is likely to be Rs 11,800 crore. This will give a major boost to ongoing projects and will expedite the construction of strategic roads, bridges and tunnels along the northern borders.
Taking an example of the old town of Sopore in North Kashmir which is famous for its apples and apricots, suffered from terrorist atrocities and was deprived of economic growth for years. This town has also witnessed many upcoming projects which will transform this town and ensure the growth of local population. The projects include, black topping of roads in the villages, construction of public toilets, construction of wide network of roads and drainage systems , construction of power houses , construction of water filtration plant, construction of indoor stadium, classrooms, universities and many more. With sustained economic, infrastructural growth, improvement in educational facilities and jobs creation the youth of Sopore will have many opportunities to excel and will no more be mislead to join terrorist outfits .
The ever increasing demand by the Kashmiri youth for development of infrastructure, industries, jobs, education facilities, the statistics for the past years suggest that Kashmir is heading in the right direction and the willingness of the government to boost the Infra and economic development will surely make this heaven on earth one of India’s finest Union Territory.
