Groundbreaking initiatives have ensured the economic growth and holistic development of J&K: LG – Jammu Kashmir Latest News | Tourism
50,726 projects completed in one year
SRINAGAR, May 6: Lt. Governor, Manoj Sinha today enlisted various groundbreaking initiatives of the UT Government to foster economic growth and holistic development in Jammu and Kashmir.
Calling the lack of adequate infrastructure in the past a major impediment to the growth of J&K’s economy, he said significant steps had been taken by the government over the past three years to remove impediments and accelerate progress. decisions on approvals for the timely implementation of projects.
“We reached the historic milestone of 50,726 projects in one year, five times more than the 2018 figure of 9,229 projects. Rapid economic reforms and close attention to infrastructure development have infused new energy throughout the economy, which has directly resulted in the revival of investment activity and investor sentiment,” Sinha observed.
He said the revival of different sectors of the economy such as handicrafts, industrial investment, tourism and the unprecedented pace of infrastructure construction has given the Union Territory of Jammu and Cashmere enviable strength and self-confidence.
“Artificial boundaries have been created within the system, which have been removed to ensure equitable growth so that every J&K citizen benefits from rapid economic development, rapid social change, and J&K prosperity. In the connectivity sector, previously only 6.54 km of roads were being built every day, which has now been significantly increased to 20.68 km of road per day. Approximately, Rs. one lakh crore is spent on road and tunnel infrastructure, which opens new opportunities for people living in remote areas,” the Lieutenant Governor said.
It is pertinent to mention here that in 2018-2019, only 9,229 projects costing Rs 67,000 crore were completed. Subsequently, in 2020-2021, 21,943 projects with an expenditure of Rs.63,000 crore were completed. The 2021-22 fiscal year set a new record by completing 50,726 projects. The current infrastructure is expected to grow at a much faster rate in the coming days.
“Improved connectivity is important not only for the overall growth of the economy, but also to achieve the goals of strengthening institutions to provide basic necessities for all, agriculture, promoting inclusive growth and creating job opportunities. Inclusive growth is the ultimate goal of the government,” Sinha added.
He also highlighted measures to improve the productivity of agriculture and horticulture such as diversification of high-density crops, availability of high-quality seeds, improved water management and promotion of technology. He said the overall improvement of this important sector would contribute significantly to the economic growth of J&K’s Union Territory and job creation.