Jammu and Kashmir’s GDP has increased in last 4 years due to reforms: LG

Srinagar: Jammu and Kashmir LG Manoj Sinha on Sunday said the UT’s GDP has increased during the last four years from Rs 1.6 lakh crore in 2018-2019 to Rs 2.64 lakh crore in 2021-2022 due to the reforms brought by the administration. .

While interacting with the media on Budget 2024-2025, Sinha said that some people will continue to do politics, be it reservation for SCs or giving land to the landless.

“Let them do their work and we will do ours,” he said.

Speaking about the Vote on Account of Budget 2024-2025 in Parliament, Sinha said that the economic condition of Jammu and Kashmir is much better than before.

“The effort of our administration is to increase capital expenditure and reduce revenue expenditure. The revenue expenditure of Jammu and Kashmir is Rs 80,000 crore, a large part of which goes to the salaries of employees, while the capital expenditure has increased from Rs 11,000 crore to Rs 38,000 crore,” Sinha addressed a press conference in Jammu. Said while doing.

He said that now Jammu and Kashmir is fully integrated with the Union of India and there is zero tolerance against terrorism, while the tricolor flies all over Kashmir.

On J&K Bank, he said that this institution which once had a loss of Rs 1200 crore is now running as an institution with a profit of Rs 1300 crore. He expressed hope that the bank’s profit will reach Rs 1,800 crore in this financial year.