By Nasir Khan
Srinagar, Aug 12(NVI): Lieutenant Governor Manoj Sinha on Monday declared that Jammu and Kashmir is steadily shedding its past identity as a “debt-ridden state” and is on a determined course towards becoming a self-reliant Union Territory, thanks to the strong backing from the Central Government.
Speaking at a press conference at theSher-e-Kashmir International Convention Centre (SKICC) in Srinagar, LG Sinha emphasized that the administration’s efforts over the past five years have transformed J&K’s economic landscape. “J&K was once known for its debt, but we have worked tirelessly to steer it towards economic sustainability,” he said.
Reflecting on the past five years, LG Sinha noted that the region has seen a period marked by peace, prosperity, and optimism. “The Lok Sabha elections saw an unprecedented voter turnout of 58 percent, a remarkable achievement,” he added.
The LG highlighted that the recently approved J&K budget for 2024-25 stands at Rs 1.18390 crore, a significant increase of Rs 30,889 crore from the previous year. This budget aims to boost key sectors like agriculture, horticulture, and infrastructure development.
One of the major achievements, according to the LG, is the stability in power tariffs over the past three years. “Despite challenges, we have kept electricity prices lower than in Punjab, Himachal Pradesh, and Haryana. We’ve also successfully reduced transmission and distribution losses by 25 percent,” he said.
The LG also addressed the challenges posed by the 2014 floods and the COVID-19 pandemic, describing them as significant obstacles in J&K’s infrastructure development journey. However, he refrained from commenting on the current security situation in the region.
Furthermore, LG Sinha highlighted the turnaround of J&K Bank, stating that the institution has emerged from its financial troubles and is now a profitable entity, reflecting the overall financial improvement in the Union Territory. (News Vibes of India)
