Jammu and Kashmir witnesses unprecedented economic growth even amidst conflict

The abrogation of Article 370 by the Indian Centre in 2019 has paved the way for a massive development, encompassing a construction and economic boom, to take place in the State of Jammu and Kashmir today.

On 5 August 2019, Prime Minister Narendra Modi’s Government abrogated the Article 370 which gave special privilege to the State. Subsequently, a reorganisation Act was passed and this reconstituted the State into the Union territories of Jammu, Kashmir, and Ladakh.  

These decisions were taken by the Centre to stabilise Jammu and Kashmir keeping in mind to fully integrate the region with the Indian State. The move helped to encourage and promote investment and infrastructural development in the region which has lagged for decades.

Within simply three years, Jammu and Kashmir is on the cusp of massive unprecedented economic growth with record-breaking investment proposals worth ₹ 31,000 crores. The new scheme notified by the central government of India, worth ₹ 28,400 crores is likely to employ over 4.5 lakh J&K people.

According to reports gathered, about six such agreements of investment have been signed with global investors at EXPO2020 Dubai in real estate, tourism, healthcare, and infrastructure, and to offer employment among these sectors, creating more scope for secure jobs.

To top it off, about 53 projects are near completion at a cost of ₹ 58,477 crores in various sectors such as electricity, education, healthcare, roads, agriculture, tourism, and skill development.

A road of 17,601 kms was constructed under the Pradhan Mantri Gram Sadak Yojna. This road has connected about 2,074 places in the region. Also, to connect Kashmir via train, the government has commissioned a project in sections of Udhampur—Katra, Banihal—Quazigund, and Quazigund—Baramulla.

As per the reports, in 2018—2019, about 3,293 projects were completed under district Capex in Jammu and Kashmir. In the following year, about 1,165 projects were completed, however, during 2020—2021, it was 1,676.

According to statistics quoted by officials, in 2021—2022, 18,651 projects are likely to have been substantially completed or under completion and are also likely to reach 36,572 project completion by the end of the fiscal year.

A scheme has been integrated to transform Jammu and Kashmir into an educational hub in the Northern Region of India. Prestigious educational institutions like IIMs and IITs are fully functional, with over 22 colleges and two new cultural university projects under discussion.

To attract students to pursue education, the government is also offering better- endowed scholarship schemes to support those in need of financial help and minorities in society.

In the healthcare sector, major private hospitals like Apollo Hospitals are planning on setting up a 250-bed hospital in Jammu and Kashmir. Also, as per the records, Kashmir is the only Union Territory after the abrogation of article 370 to have universal health insurance coverage for up to ₹ 5 lakh per family.

It’s a gamer changer for Jammu and Kashmir having major medical institutes like All India Institute of Medical Sciences and Cancer Institutions along with two new medical colleges under development in Udhampur.

The Jammu and Kashmir Industrial Policy 2016 aims to upscale investment for goods, services, and employment production. The goal is to eradicate any challenges J&K faces in development.

The region is not only witnessing major development in infrastructure, or other sectors like agriculture and tourism but also in Sports. A remarkable progress in sports infrastructure by inaugurating the “Khelo India University Games (KIUG)” is attracting young men and women to participate in tournaments and these sportspersons becoming household names.

In all likelihood, the development growth prospects since the abrogation of Article 370 aim at strengthening the agriculture sector, fisheries development, livestock, dairy, sericulture, irrigation, industrial growth (with a pragmatic approach), employment generation, electricity, roads, telecommunications, women and child development, health, education, housing and urbanisation; bringing improvisation in governance — upscaling potential sectors like horticulture, handloom and handicrafts, tourism, information technology (IT), biotechnology, and border area development.

The monumental jump in the allocation of budgetary only shows in evidence how seriously India wants to restore Jammu and Kashmir to its glory through massive development projects and offer peace to its people in the violence-marred state. A real change is only worth the efforts of development and investment when people start to think logically for betterment. To raise concerns about strengthening infrastructures instead of pondering over which religion to support is the day when Jammu and Kashmir would be fully developed and free of religious dogma holding it back.