10
Revision in GST Collection: Chief Minister Abdullah said that the torrential rains in Jammu and Kashmir from July to September have badly affected the agriculture and horticulture sectors of the Union Territory.
Revision in GST Collection : Before Diwali, the Central Government had given a big gift to the common people by amending GST and after this the prices of many items have also reduced. Meanwhile, Jammu and Kashmir Chief Minister Omar Abdullah said on Tuesday that after the amendment, the state’s tax collection is expected to reduce by Rs 1,000 crore in the financial year. Addressing the FICCI National Executive meeting, Abdullah also said that the Pahalgam terrorist attack caused huge damage to the image of Jammu and Kashmir. He said that the revision in GST rates alone will reduce our income by Rs 900 and Rs 1000 crore and for a state like Jammu and Kashmir which is already in deficit.
Big loss to the economy
Chief Minister Abdullah said that the torrential rains in Jammu and Kashmir from July to September have badly affected the agriculture and horticulture sectors of the Union Territory. He further said that this has caused huge loss to the economy. Abdullah said that the Pahalgam terror attack is not only a blow to the tourism industry of Jammu and Kashmir but also to the perception of the region. He further said that Pahalgam has given a blow to our notion of seeing Jammu and Kashmir as a home. However, Abdullah expressed hope that now things are moving rapidly in a positive direction. Also, when the situation in Jammu and Kashmir is good, it becomes very good, when it is bad, it becomes very terrible.
State moving towards positive direction
The Chief Minister of Jammu and Kashmir said that I would not say that we are at the lowest level right now, but in the beginning of this year we had come very close to it. But I believe that now the direction is positive. He further said that it will take time and a lot of effort to bring the Union Territory back to the situation before the Pahalgam terror attack. Apart from this, while referring to the broader situation of Jammu and Kashmir, he said that the Union Territory has faced a challenging year full of many failures. He said that there is no hiding from anyone what challenges Jammu and Kashmir has to face this time. He admitted that these developments have put pressure on the financial position of Jammu and Kashmir.
Also read- Google will build the first AI hub in India, will invest 15 billion dollars; CEO Pichai announced
