Seeks measures to tackle growing unemployment
SRINAGAR: Kashmir Economic Alliance have expressed hope that the government will announce the budget for Jammu and Kashmir to the Center , keeping in mind the economic conditions of the past years of UT. Expressing hope for a healthy budget for the year 2023-24, Kashmir Economic Alliance (KEA) a united platform of Traders, transporters, Contractors, Hotel and houseboat owners said that although the budget of 112,000 presented in the last financial year was up to the expectations of Traders, this year they hope for an even better budget.
Co-Chairman of the KEA Farooq Dar said that steps need to be taken for the rehabilitation of the Trade community so that the loss they have been suffering for the last 4 years can be reduced
“There is a need to have a share in the budget for the rehabilitation of shopkeepers, houseboats, Shikaras and Hotel owners, transporters, shopkeepers, fruit traders, so that their economic condition can be improved,” he said.
He said they have many expectations from the upcoming Budget for Jammu and Kashmir. We have reached a critical stage where local businesses and trade demand a comprehensive revival package for the whole Union Territory especially Kashmir Valley.
Dar said that approval of the budget and implementation of the budget at the ground level are two separate matters.
“We are concerned that 40 percent of the funds allocated in the development sector will be lapsed in this financial year, Dar said,
He, however, said that if any money is allocated in any sector, it should also be implemented at the ground level. He further said that currently the contractors owe Rs 850 crore and they expect that consideration will be given in the upcoming budget to pay these liabilities.
He said our businesses are not able to hire the unemployed youth anymore. It’s going to only grow if no positive intervention is made through the upcoming Budget.