Jammu and Kashmir Chief Minister Omar Abdullah on Wednesday stated that the Union Territory’s financial dependence on the Central Government has increased since its reorganisation from state to a Union Territory.
The Chief Minister said this in response to recent observations made by Union Finance Minister Nirmala Sitharaman on the importance of fiscal discipline in reducing the debt-to-GDP ratio. The Jammu and Kashmir continues to rely heavily on central assistance to meet its financial requirements, he added.“Jammu and Kashmir is not financially self-sufficient. Our dependence on the Centre has increased after we were made a Union Territory,” Omar Abdullah told reporters in Srinagar. He pointed out that as a state, Jammu and Kashmir earlier received a share of central taxes, which is no longer available under the present administrative setup.
“As a result, a large portion of the budgetary burden has now been transferred directly to the Centre,” said the Chief Minister, who also holds the Finance portfolio. He added that despite these challenges, the government has remained focused on maintaining fiscal discipline and prudent financial management.“We have made every effort to ensure that there is no compromise on financial discipline,” he said, reiterating the government’s commitment to responsible governance.
On the issue of adventure tourism, Omar Abdullah said the government is working actively to promote such activities across Jammu and Kashmir, while ensuring strict adherence to safety norms. Stressing the importance of public safety, he said tourism promotion would not come at the cost of human lives.“We are doing our best to promote tourism, but safety and security of people remains our highest priority,” he said, adding that incidents caused by negligence elsewhere serve as reminders for the need for strict safety measures.
Addressing the development of tourist destinations, the Chief Minister said priority should be given to reopening established locations that remain closed or partially inaccessible. He pointed out that several popular spots continue to face restrictions, limiting tourism movement.
Commenting on the ongoing power crisis in Kashmir, Omar Abdullah said electricity generation has declined due to reduced water discharge in rivers. He urged residents to use electricity responsibly, particularly during the winter season when demand peaks.
The Chief Minister reaffirmed the government’s commitment to balancing development, safety, and fiscal responsibility while addressing the challenges faced by the Union Territory.
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