Fri Nov 15 17:10:32 UTC 2024: **J&K Chief Minister Seeks Substantial Central Funding in Meeting with Finance Minister**

**Srinagar, November 15, 2024** – Jammu and Kashmir Chief Minister Omar Abdullah met with Union Finance Minister Nirmala Sitharaman in New Delhi today to discuss the Union Territory’s pressing economic and developmental challenges. The meeting focused on securing significant financial support from the central government.

Mr. Abdullah, whose National Conference party secured a landslide victory in recent elections, highlighted the need for funding to address several key issues. These include the regularization of over 60,000 daily wage employees, a planned massive employment drive, and the fulfillment of election promises such as increasing food rations and providing free electricity and gas cylinders to impoverished citizens. These initiatives, he stated, require substantial financial backing.

The Chief Minister also advocated for multilateral funding to develop new tourism destinations to alleviate pressure on existing sites and create world-class infrastructure. He specifically requested consideration for Jammu and Kashmir under the “Special Assistance to States for Capital Investment” scheme, which offers 50-year interest-free loans. Furthermore, he sought an additional ₹6,000 crore in central assistance to address the UT’s budget deficit for the fiscal year 2024-25.

Mr. Abdullah expressed gratitude for the approval of the Competitiveness Improvement of Agriculture & Allied Sectors Project (JKCIP), a $100 million initiative funded by the International Fund for Agriculture Development (IFAD). However, he also urged the Finance Ministry to grant Jammu and Kashmir the same incentives offered to northeastern states for externally aided projects and to allow access to special lending arrangements under these projects.

Mr. Abdullah expressed confidence that collaborative efforts with the central government will bolster Jammu and Kashmir’s financial stability and foster sustainable development.

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