Srinagar/New Delhi, Nov 15 (IANS): Jammu and Kashmir Chief Minister Omar Abdullah on Friday met Union Finance and Corporate Affairs Minister Nirmala Sitharaman in New Delhi to discuss key financial matters concerning the Union Territory.
"Shri Omar Abdullah (@OmarAbdullah), Hon'ble Chief Minister of Jammu & Kashmir, calls on Smt @nsitharaman", the Finance Minister's Office said in a tweet.
Chief Minister Abdullah, in a social media post, said that he called on Union Finance Ministry Sitharaman and "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".
He expressed optimism that collaborative efforts with the Central government would enhance financial stability and promote sustainable development in Jammu and Kashmir.
"Chief Minister sought the support of the Union Finance Minister to avail the multi-lateral funding for development of new tourism destinations in Jammu & Kashmir, aimed to decongest the existing locations and to create well-planned and world-class infrastructure at these new identified locations," an official statement said.
"CM thanked the Ministry of Finance for approving the Competitiveness Improvement of Agriculture & Allied Sectors Project (JKCIP) for Jammu & Kashmir to rejuvenate the agriculture sector which entails financing of 100 million USD through the International Fund for Agriculture Development (IFAD) over the next 7 years."
In this regard, CM Abdullah requested the Ministry to treat J&K at par with North Eastern States for availing incentives in respect of Externally Aided Project (EAP) loans and making J&K eligible for special lending arrangements under the EAP loans, it said.
"He requested the Finance Minister to consider Jammu & Kashmir 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 statement added.
"CM also informed the Finance Minister about the difficult fiscal situation being faced by J&K and requested the Ministry to provide additional central assistance of Rs 6,000 crore to bridge the resource gap in the UT budget for FY 2024-25."
Over the past few days, Chief Minister Abdullah has held several important meetings with senior leaders and officials of the Union Government to address critical issues affecting Jammu and Kashmir.
During his current visit, he called on President Droupadi Murmu, and Vice President Jagdeep Dhankar and attended the Power Ministers’ conference chaired by the Union Minister of Power to discuss J&K’s priorities and challenges in the power sector.