First-Ever Limestone Block Auction Paves Way for J&K's Economic Transformation

The Indian government is launching the first-ever auction of seven limestone blocks in Jammu and Kashmir, expected to enhance job creation, revenue growth, and industrial expansion. This initiative reflects cooperative federalism and aims to make J&K a 'Mineral Powerhouse' contributing to India's development vision.

Jammu and Kashmir are set to make history with the first-ever auction of seven limestone mines across Anantnag, Rajouri, and Poonch. This landmark event marks the Union Territory's entry onto India's mineral map, as announced by Union Minister G Kishan Reddy on Monday.

The auction, a collaboration between the Union and state governments, covers 314 hectares and is aimed at fostering job creation, industrial expansion, and economic opportunities for local communities. It underscores the Modi government's commitment to cooperative federalism and enhancing the socio-economic conditions of regions, particularly the backward areas.

Highlighting the transparency and technology-driven nature of the process, Minister Reddy emphasized that all premiums and royalties would funnel into the state fund, with no additional taxes imposed by the Union government. The auction is expected to promote ease of business, boost investor confidence, and lead J&K to become a 'Mineral Powerhouse' within India's growing 'mineral economy'.

(With inputs from agencies.)