Finance Minister Nirmala Sitharaman will visit Jammu and Kashmir starting today. During the visit, the FM will announce major packages for the business sector

Union Finance Minister Nirmala Sitharaman will begin a two-day visit to Jammu and Kashmir today, November 22. FM Sitharaman will begin the first day of her visit in Srinagar and will travel to Jammu on Tuesday. This will be the finance minister’s first visit to Jammu and Kashmir after the abrogation of Article 370 on August 5, 2019, that resulted in the bifurcation of erstwhile state into two Union Territories.

Finance Minister Nirmala Sitharaman will visit Jammu and Kashmir starting today. The FM will be joined by J&K Lieutenant Governor Manoj Sinha. During the visit, the FM will announce major packages for the business sector in the Union Territories. FM Sitharaman will be at Srinagar in the first leg of her two-day visit and will travel to Jammu on November 23. The union minister will be reviewing the status of the economy that remained hit the revoking of Article 370 revocation and the COVID pandemic induced lockdown.

FM Sitharaman will hold meetings with the various stakeholders in the region including trade and industry delegations to review the economic situation in the region. The two-day visit was planned by the FM after receiving feedback from other union ministers after their recently concluded public outreach program to the UT. Earlier, Rs 1,350 crore rehabilitation package was announced by the J&K administration to revive businesses in the region. The Centre now plans to provide further support to the business sector hereafter the FM reviews the situation. Sitharaman had also held an interaction with LG Sinha last week over the economic situation of the state.

FM Sitharaman Chairs Meet With 15Cms

Earlier last week, Finance Minister Nirmala Sitharaman held a virtual interaction with Chief Ministers of States and Lieutenant Governors of Union Territories (UTs) on Monday. Chief Ministers of 15 States, Deputy Chief Ministers of three States, J&K L-G Manoj Sinha, and finance ministers of other States marked their presence at the meeting on November 15. The meeting revolved around the robust growth witnessed after the second COVID wave and the ways in which it could be sustained.

The dignitaries of the state’s presence at the meeting proffered their ideas as to how sectors of investment, development and manufacturing could be taken to new heights while maintaining resilience. Some Chief Ministers even requested for frontloading a part of the tax devolution for the current financial year, in order to increase the states' capital expenditure. The FM, during the meeting, asserted that the states will not be short of money as of 2021.