Jammu and Kashmir's Financial Dependency Surges as Union Territory

Chief Minister Omar Abdullah voiced concerns over Jammu and Kashmir's increased financial dependence on the Centre post its union territory status. The state now lacks financial self-sufficiency and struggles with power generation issues. Abdullah also stressed the importance of safety in promoting adventure tourism.

Jammu and Kashmir's financial reliance on the Centre has deepened since it became a union territory, according to Chief Minister Omar Abdullah. In response to Union Finance Minister Nirmala Sitharaman's remarks urging states to maintain fiscal discipline, Abdullah highlighted the state's growing fiscal dependence.

Abdullah explained that as a former state, Jammu and Kashmir received a state share from Central taxes, a benefit it no longer enjoys, leading to an increased budgetary burden on the Centre. He emphasized efforts to maintain financial discipline despite the challenges.

Beyond finance, Abdullah addressed the promotion of adventure tourism, stressing safety and security. He also noted a significant drop in power generation due to reduced water discharge in rivers, urging residents to use electricity judiciously amid cold weather conditions.

(With inputs from agencies.)