J&K poised for over 7 pc growth in Current Fiscal Year

SPECIAL CORRESPONDENT
JAMMU, Feb 8DOGRA HERALD BUREAU
Jammu and Kashmir, which had lagged behind in development due to the shadow of Article 370 and separatism, is poised to surge ahead with a growth rate of over seven per cent in the current fiscal year.
This was the observance of the Finance Minister Nirmala Sitharaman while presenting the Interim Budget for the year 2024-25 in Parliament on Monday. Outlining a roadmap, she aimed to take the Jammu and Kashmir Union Territory to the pinnacle of development, with clear directives from both the central and regional governments.
Based on nine key points, the budget focuses on strengthening governance, empowering local democracy, promoting holistic and sustainable agriculture, boosting investment objectives in Jammu and Kashmir, generating employment opportunities, developing new tourist destinations, fostering rapid and inclusive growth, women’s empowerment, and social inclusion.
Finance Minister Nirmala Sitharaman has allocated an annual estimate of Rs. 1,18,728 crores for the presented budget. The annual budget for Jammu and Kashmir for the year 2023-24 stood at Rs. 1,18,500 crores. Hence, it can be observed that there has been a marginal increase in the budget compared to the previous year. Since becoming a centrally administered union territory in 2019, the budget has been presented in Parliament.
This budget marks a significant step towards revitalizing Jammu and Kashmir’s economy and fostering inclusive development across various sectors. It reflects the government’s commitment to ensuring the region’s rapid progress and integration into the national mainstream, leaving behind the legacy of Article 370 and separatism.