Jammu, Kashmir unimpressed with Rs 30,757-crore allocation

Tribune News Service

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Jammu, February 1

Traders, businessmen and industrialists of the Jammu region remained unenthusiastic over the budget allocation of Rs 30,757 crore provided to Jammu and Kashmir Union Territory (UT) for the financial year 2020-21.

They said there was no clarity over the Budget allocation, while the Union government did not make any announcement with regard to major infrastructural development in Jammu and Kashmir.

“The Budget is welcome for middle class and the major thrust is on infrastructure development, water management programme, education and skill development, but there is nothing J&K specific in it. Besides, there is no clarity over Rs 30,000 crore allotted to J&K Union Territory. A meagre Rs 2,500 crore for tourism sector at the national level is just peanuts,” said Rakesh Gupta, president, Chamber of Commerce and Industry, Jammu.

Neeraj Anand, president, Jammu Chamber of Traders Federation, also questioned the lack of clarity over the J&K package. “Overall, it is good budget, but we were expecting som direct benefit for the trading community for economic revival in J&K as we suffered a lot after August 5. We are disappointed on that end,” Anand said.

Annil Suri, former president of the Bari Brahmana Industrial Association (BBIA), said, “The UT of J&K had great expectations from the Budget, but I personally feel that the Union government did not give any attention towards the industrial sector in J&K. Although we were not expecting any industrial package or incentives with this Budget as it may be announced later, but we had expected that the government would make an announcement on some infra projects for the development of the industry in J&K. Special measures have not been announced to kick-start the economy.”

Union Finance Minister Nirmala Sitharaman, in her speech, said the government was “fully committed to supporting the all-round development of the newly formed Union Territories of J&K and the Union Territory of Ladakh”.

QUOTES

‘Nothing J&K specific’

“The Budget is welcome for middle-class and the major thrust is on infrastructure development, water management programme, education and skill development, but there is nothing J&K specific in it. Besides, there is no clarity over Rs30,000 crore allotted to J&K Union Territory. A meagre Rs2,500 crore for tourism sector at the national level is just peanuts.”

Rakesh Gupta, President, Chamber of Commerce and Industry, Jammu

‘No boost for local economy’

“The economy has suffered a loss of around Rs18,000 crore in the past six months. Will they use this Rs30,000 crore for infrastructure or salaries of the employees? There is no special package for J&K. There is nothing in the Budget to help the economy of J&K. If there is any component to help the crippled economy, we will get to know when it is implemented on the ground.”

Aijaz Shahdar, Vice-Chairman, Kashmir Economic Alliance