Srinagar, Feb 02 : The Jammu and Kashmir government on Monday said the Union Territory is among the fastest-growing regions in the country, recording a nominal economic growth rate of around 11 per cent in 2024–25, driven by infrastructure expansion, fiscal reforms and increased digital governance.
Addressing the Budget Session of the J&K Legislative Assembly, the Lieutenant Governor said the past year marked a “significant milestone” with the formation of an elected government after several years, which he said had strengthened public faith in democratic institutions. “My government has focused on restoring participatory governance and ensuring that the voice of every region and community finds expression in policy-making,” he said.
He said J&K’s development strategy continues to be guided by the principles of “economy, ecology and equity,” with emphasis on transparency, accountability and citizen-centric service delivery. “Over 1,500 public services are now available online, while 391 services have been integrated with an auto-appeal system to ensure timely delivery, the LG said.
Highlighting digital governance, he said the UT recorded 82 crore e-transactions in the past year, averaging over 22 lakh transactions per day. Complete Aadhaar seeding of welfare beneficiaries has enabled direct benefit transfers of ₹9,000 crore to nearly 80 lakh beneficiaries under 77 schemes in the current financial year.
On fiscal indicators, the LG said GST collections increased from rupees 8,064 crore in 2023–24 to rupees 8,586 crore in 2024–25, while tariff revenue from the power sector rose by 16 per cent. He also noted that 1,431 crore has been sanctioned under the Special Assistance to States for Capital Infusion for 222 capital projects.
Infrastructure development remains a key focus, with investments of over 61,500 crore in the road sector, including expressways, national highways and tunnels. “Three major tunnels have been completed and eight others, including the Zojila Tunnel, are at advanced stages,” he said.
Nineteen new national highway projects worth 10,637 crore have also been sanctioned for 2025–26.
The LG said the Kashmir Valley has been connected to the national railway network, with a separate railway division sanctioned for Jammu and Kashmir. He also announced that the first-ever FCI foodgrain freight train to Kashmir has been operationalised.
In the power sector, he said hydropower projects with a combined capacity of over 3,000 MW are under execution, while 10.44 lakh smart prepaid meters have already been installed. “Losses have reduced by nine per cent and revenue realisation has increased by 16 per cent,” he said.
Tourism recorded 1.78 crore visits in 2025, despite security and weather-related challenges, the LG said, adding that tourism has been granted industry status. Agriculture and allied sectors have also seen growth under the Holistic Agriculture Development Programme, with increased crop diversification, oilseed production and fisheries output.
On social welfare, the LG said over 10 lakh beneficiaries are receiving pensions, with enhanced monthly rates effective from April 2025. He also announced free public transport for women, calling it a step towards improved mobility and affordability.
Calling for cooperation among legislators, the LG said the government remains committed to “inclusive governance, development with dignity and strengthening democratic institutions.”
“Let us collectively strive to build a J&K that is peaceful, progressive and prosperous,” he said.(KNS)
