Chief Minister Omar Abdullah on Wednesday said Jammu and Kashmir’s financial dependence on the Centre has increased after it was made a union territory.

The chief minister was reacting to Union Finance Minister Nirmala Sitharaman’s statement about the need for states to ensure fiscal discipline for reducing the debt-GDP ratio.
“Jammu and Kashmir is not financially self sufficient. We are largely dependent on the Centre for financial resources. This dependency, instead of reducing, has increased after we were made a UT,” Omar , who is also JK’s finance minister, told reporters here.
“As a state, we used to get state share from Central taxes which we do not get now. So, we have to directly transfer a lot of budgetary burden to the Centre. However, we have tried out best to ensure that there is laxity in financial discipline,” he said.