The UT government’s reiteration of pursuing holistic, focussed and inclusive economic growth and development across Jammu & Kashmir is heartening.
It is an achievement and a matter of pride to see the economy of J&K moving in an upward direction over the last three years after years of delay due to administrative lethargy and other impediments.
Lt Governor Manoj Sinha’s recent announcement that significant steps are being taken to eliminate impediments and expedite approvals for pending and new projects is a goal whose time has come.
It is an astounding scale of achievement that 50,726 projects have been cleared for implementation in the last year alone. Four years ago, that figure was an abysmal 9,229 projects.
It can be rightly said and claimed that infrastructure development in Jammu and Kashmir has been infused with new energy, and this is entirely due to investment activity and investor sentiment being revived.
The emphasis given to key sectors of the UT economy like handicrafts, industrial investment, tourism and infrastructure and the funding allocated thereof by the Centre has not only been inspirational, but also very effective in removing systemic and artificial boundaries that were blocking growth.
Economic development at a steady pace has given the people of J&K confidence in themselves, in their abilities, and by extension, is allowing them to enjoy the benefits that was absent from their lives for so long.
Connectivity through better roads has been one of the priority areas of the UT administration. Approximately, Rs. one lakh crores is being spent on road and tunnel infrastructure in J&K, said Lt Governor Sinha, adding that this is “opening new vistas for people living in far-flung areas.”
In 2018-19, only Rs.67,000 crores worth of infrastructure projects (9,229) were completed, whereas in Fiscal 2020-21, 21,943 projects costing Rs.63,000 crores have been completed. To see this figure being more than doubled in Fiscal 2021-22 is impressive if not stunning.
That the UT government is also keen to improve agriculture and horticulture productivity, besides meeting the objective of strengthening institutions to provide necessities and jobs to all, is laudable.
The government and the Lt Governor have also highlighted the need for taking measures such as diversification of high-density crops, availability of high-quality seeds, improvement in water management and promotion of technology. All-round improvement in an important sector like agriculture can contribute significantly towards the economic growth of J&K.
