Sitharaman commends Omar Abdullah’s efforts to revive J-K economy

Union Finance Minister Nirmala Sitharaman on Saturday lauded Jammu and Kashmir Chief Minister Omar Abdullah of the National Conference for his “focused” and “determined” approach to revitalising the Union territory’s economy, particularly following the severe blow to tourism in the state. The praise is especially notable as Abdullah is a key political opponent of the BJP, highlighting recognition of effective governance and economic initiatives in Jammu and Kashmir across party lines.

Sitharaman reflected on India’s economic journey since 2019, highlighting specific efforts in Jammu and Kashmir. She noted that challenges along the borders had affected the region’s economy just as it was beginning to recover under central administration.

“The Centre has delved into the granular details of Jammu and Kashmir’s economy, removing obstacles and pushing it to become buoyant,” she said, pointing to the restoration of J-K Bank and other key economic measures.

Under Abdullah, the Union territory has seen a partial but measurable revival: the real GSDP grew at an estimated 7.06% in 2024‑25, per-capita income rose to around ₹1.54 703, unemployment declined, and tourist arrivals rebounded to over 2.3 crore in 2024. Investments in agriculture, horticulture, small industries, and tourism infrastructure have created jobs and helped diversify the economy beyond tourism.

“I must appreciate the Chief Minister of J-K, who met me twice and remained focused on restoring the economy after the tourism sector came to a standstill,” Sitharaman added, a veiled reference to the April 22 Pahalgam attack that killed 26 people.

The finance minister’s remarks highlighted collaborative efforts between the Centre and J-K’s leadership to stabilise and rejuvenate the region’s economy, demonstrating that effective governance and economic revival can transcend political divides.