Union Finance Minister Nirmala Sitharaman with Jammu and Kashmir Chief Minister Omar Abdullah during a meeting.
PTI
New Delhi: In a bid to enhance the economic growth of Jammu and Kashmir, Chief Minister Omar Abdullah met Union Finance Minister Nirmala Sitharaman on Friday to discuss the Union territory's financial progress with a focus on increasing local revenue generation to decrease reliance on the Centre.
The discussion took place as Abdullah continued his outreach in the national capital, focusing on strategic investments in infrastructure and connectivity to position J&K as an attractive investment destination.
This meeting is particularly significant as it precedes the ruling National Conference-led government's inaugural budget presentation after six years of central rule.
Officials described the meeting as "very positive", detailing Abdullah's emphasis on the region's financial health and the need for innovative measures to bolster revenue.
The chief minister underscored the importance of attracting investments that would generate employment, particularly in sectors such as tourism, agriculture, and horticulture, the officials said.
He stressed on the need to invest in infrastructure and connectivity so that Jammu and Kashmir "improves as an investment destination", they said.
In a notable comeback during the recent assembly elections — the first in a decade — Abdullah's National Conference secured 42 out of 90 assembly seats.
The chief minister, along with five cabinet colleagues, took oath on October 16, marking a new chapter in the region's governance.
Taking to X, the office of Sitharaman said, “Shri Omar Abdullah (@OmarAbdullah), Hon'ble Chief Minister of Jammu & Kashmir, calls on Smt @nsitharaman.”
The National Conference also highlighted the meeting on social media, sharing an image of Abdullah and Sitharaman exchanging pleasantries, and noted that the conversation centred on the economic and financial trajectory of Jammu and Kashmir.
"Chief Minister of Jammu and Kashmir, Omar Abdullah called upon the Union Cabinet Minister for Finance and Corporate Affairs. The discussion revolved around economic and financial progress of Jammu & Kashmir," National Conference said on X.
Later, Abdullah shared on Instagram, “Called on Union Minister of Finance and Corporate Affairs, smt.@nsitharaman ji. Our discussion centred around crucial economic matters concerning Jammu and Kashmir. I passionately advocated for much-needed support from the Union Finance Ministry for the region.” According to an official spokesperson, CM Abdullah also informed the Union finance minister about the difficult fiscal situation being faced by J&K and requested her to provide additional central assistance of Rs 6,000 crore to bridge the resource gap in the UT budget for FY2024-25.
Abdullah also sought support of Sitharaman to avail the multi-lateral funding for development of new tourism destinations in J&K, the spokesperson said.
He requested the finance minister to consider J&K for funding through the 'Special Assistance to States for Capital Investment' scheme under which 50-year interest free loan would be provided to states for capital expenditure, the spokesperson added.
Earlier this week, Abdullah also called on President Droupadi Murmu and Vice President Jagdeep Dhankhar, marking his second visit to New Delhi since assuming office.
This follows the significant political changes in August 2019, when Jammu and Kashmir was bifurcated into two Union territories and its special status under Article 370 was revoked.
The chief minister had separate meetings with Prime Minister Narendra Modi, defence minister Rajnath Singh, Home minister Amit Shah, minister of road transport and highways Nitin Gadkari and Power Minister Manohar Lal in the second last week of October.
During his prior engagements, Abdullah secured commitments for additional 300 MW power supply to the region ahead of the winter months and obtained funding for rural bridge construction from central ministers, further underscoring his administration's proactive approach to regional development.
As Jammu and Kashmir seeks to redefine its economic narrative, the government's strategic initiatives under Abdullah's leadership may pave the way for a more self-reliant and prosperous future, the officials said.