Lt. Governor Manoj Sinha highlights economic growth and reforms in J&K

Jammu and Kashmir’s Lieutenant Governor, Manoj Sinha, affirmed that significant reforms implemented over the last four to five years have led to notable economic growth in the region. The GDP of J&K has surged from Rs 1.6 lakh crore in 2018-19 to Rs 2.64 lakh crore in 2021-22, reflecting the efficacy of the undertaken reforms.

“The reforms enacted over the past four to five years have fostered efficient growth. J&K is steadfastly progressing towards good governance, development, and peace,” stated Lieutenant Governor Sinha.

Responding to queries regarding reservation for Scheduled Castes (SCs), Lieutenant Governor Sinha emphasized that despite certain individuals resorting to political posturing on the matter, the administration remains committed to its responsibilities. “Some individuals may choose to engage in political maneuvering, much like they did regarding the allocation of land to the landless. Let them continue their activities; we will focus on our duties,” he affirmed.

Lieutenant Governor Sinha also highlighted the remarkable turnaround of the J&K Bank, which transformed from a Rs 1200 crore loss-making institution to a flourishing entity, recording a profit of Rs 1300 crore. He expressed optimism that the bank’s profits would further soar to Rs 1800 crore in the current fiscal year.

Acknowledging the substantial power debts inherited by the present administration amounting to Rs 28000 crore, Lieutenant Governor Sinha underscored the administration’s commitment to addressing fiscal challenges.

Regarding the recent vote on account budget presented in parliament for J&K, Lieutenant Governor Sinha emphasized the significant improvement in the UT’s economic condition.

He outlined the administration’s efforts to bolster capital expenditure while curbing revenue expenditure, which has recorded a notable increase from Rs 11000 crore to Rs 38000 crore.

Addressing queries regarding the United Nations Military Observers Group of India and Pakistan (UNMOGIP) office located in Srinagar, Lieutenant Governor Sinha assured that the matter would be examined. He noted that with J&K fully integrated into the Union of India and a resolute stance against terrorism, the continuation of the UN office in Srinagar would be reviewed.

Lieutenant Governor Sinha’s remarks underscored the administration’s commitment to fostering economic growth, implementing reforms, and addressing pertinent issues crucial for the development and prosperity of Jammu and Kashmir.