New Delhi – November 15, 2024: Chief Minister of Jammu and Kashmir Omar Abdullah met Union Minister of Finance and Corporate Affairs Nirmala Sitharaman in New Delhi on Friday to discuss key financial matters concerning Jammu and Kashmir.
The Chief Minister expressed optimism that collaborative efforts with the Central government would enhance financial stability and promote sustainable development in Jammu and Kashmir. An official spokesperson said the Chief Minister sought the support of the Union Finance Minister to avail the multi-lateral funding for the development of new tourism destinations in Jammu & Kashmir, aimed to decongest the existing locations and to create well-planned and world-class infrastructure at these newly identified locations.
Omar thanked the Ministry of Finance for approving the Competitiveness Improvement of Agriculture & Allied Sectors Project (JKCIP) for Jammu & Kashmir to rejuvenate the agriculture sector, which entails financing of 100 million USD through the International Fund for Agriculture Development (IFAD) over the next seven years.
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In this regard, CM requested the Ministry of Finance to treat Jammu & Kashmir at par with the North Eastern States for availing incentives in respect of Externally Aided Project (EAP) loans and making Jammu & Kashmir eligible for special lending arrangements under the EAP loans.
He requested the Finance Minister to consider Jammu & Kashmir for funding through the “Special Assistance to States for Capital Investment” scheme under which a 50-year interest-free loan would be provided to states for capital expenditure.
He also informed the Finance Minister about the difficult fiscal situation being faced by Jammu & Kashmir and requested the Ministry to provide additional Central assistance of Rs 6,000 crore to bridge the resource gap in the Union Territory budget for FY 2024-25.
Over the past few days, Chief Minister Omar Abdullah has held several important meetings with senior leaders and officials of the Government of India to address critical issues affecting Jammu and Kashmir.
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The Chief Minister during his current visit called on President Droupadi Murmu, Vice-President Jagdeep Dhankar and attended the Power Ministers’ conference chaired by the Union Minister of Power Manohar Lal to discuss Jammu & Kashmir’s priorities and challenges in the power sector.
“These recent dialogues, culminating in today’s meeting with the Finance Minister, reinforce the commitment to advancing the welfare and development of the people of Jammu and Kashmir,” the spokesperson said.
During his stay in New Delhi, Chief Minister Omar Abdullah also held a series of meetings at his official residence with Government of India officials and industry leaders to explore opportunities for collaboration and development.
Among those he met were Arjun Dhawan, Executive Vice-Chairman of Hindustan Construction Company Limited, who discussed infrastructure development projects in Jammu and Kashmir; Abhijit Basu, Founder and CEO of Smartex Cognitive Pvt Ltd, XCED, APAC, CEDMA, California, USA, who shared innovative solutions in technology and smart governance and Avinash Pawar, DM of National Small Scale Industries Corporation Ltd (NSIC) under the Ministry of Micro, Small and Medium Enterprises (GoI).
He also met Aaley Mohammad Iqbal, Deputy Mayor of Delhi Municipal Corporation, to discuss pressing issues regarding the urban areas and identified common areas for collaboration.
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