Nityanand Rai Presents a Breakdown of Investments of Rs 5319.35 crores Pouring into Jammu and Kashmir, Post-Article 370 Abrogation Economic Resurgence
From Article 370 Repeal to Economic Revitalization: Nityanand Rai Presents a Breakdown of Investments Pouring into Jammu and Kashmir
New Delhi, 19-13-2023 : Since the abrogation of Article 370 on August 5, 2019, the Union Territory of Jammu and Kashmir has experienced a noteworthy surge in investments, amounting to a substantial sum of Rs 5319.35 crores. Nityanand Rai, the Union Minister of State in the Ministry of Home Affairs, shared this information during a parliamentary session. The query, posed collectively by Members of Parliament including Raj Kumar Chahar, Sunil Baburao Mendhe, Vivek Narayan Shejwalkar, Shankar Lalwani, Dr. Bharatiben Dhirubhai Shiyal, Sanjay Jaiswal, and Dr. Rajdeep Roy, sought details on the Union Government’s strategies to address terrorism and the developmental initiatives influencing increased investments following the revocation of Article 370.
Responding to the inquiry, Rai disclosed that the Union Territory attracted investments in a phased manner: Rs 296.64 crores in 2019-20, Rs 412.74 crores in 2020-21, Rs 376.76 crores in 2021-22, Rs 2153 crores in 2022-23, and Rs 2079.76 crores up to October 31, 2023, totaling Rs 5319.35 crores.
Concerning counter-terrorism measures, Rai underscored a significant decline in incidents. In 2018, there were 228 terrorist-initiated incidents, but only 43 were reported up to November 30, 2023. He highlighted a decrease in encounters and casualties, with 48 encounters and a total of 13 civilians and 25 security forces personnel casualties reported in the current year (up to November 30, 2023), compared to 189 encounters and 146 casualties in 2018. Rai attributed this reduction to strategies such as continuous security checkpoints, intensified Cordon and Search Operations, and real-time intelligence sharing.
Responding to the inquiry, Rai disclosed that the Union Territory attracted investments in a phased manner: Rs 296.64 crores in 2019-20, Rs 412.74 crores in 2020-21, Rs 376.76 crores in 2021-22, Rs 2153 crores in 2022-23, and Rs 2079.76 crores up to October 31, 2023, totaling Rs 5319.35 crores.
Rai emphasized the government’s unwavering commitment to a zero-tolerance policy towards terrorism and the strengthening of security measures to ensure peace and stability in Jammu and Kashmir. He credited these actions for the decline in the number of terror incidents.
Furthermore, Rai highlighted the transformative impact of Article 370’s abrogation on the Union Territory, citing progress in infrastructure, healthcare, education, and tourism. He pointed out the successful implementation of flagship schemes and IT initiatives that contributed to enhanced compliance and accountability.
To further stimulate investment and industrial development, the Government of India has introduced a New Central Sector Scheme with an outlay of Rs. 28,400 Crore, according to Rai. The Union Minister also mentioned initiatives by the Government of Jammu and Kashmir, aimed at making the region more conducive to investors.
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