Investment gets a boost in Kashmir post abrogation of Article 370
SRINAGAR, APRIL 6: After the abrogation of Articles 370 and 35A and the bifurcation of Jammu and Kashmir (J&K) state into two Union Territories (UTs) by the Centre on August 5, 2019, a total of 185 non-locals have bought land in Jammu and Kashmir and 1,559 companies have made investments in the UT.
However, no non-local has bought land in Ladakh where political parties, traders and civil society members are demanding 6th Schedule status to safeguard jobs and land rights of the local population.
In a written reply, Union Minister of State for Home Affairs Nityanand Rai on Wednesday informed the Rajya Sabha that as per the information provided by the J&K government, 185 persons from outside the Union Territory have bought land in J&K in the last three years.
According to the data, only one person bought the land in J&K in 2020, followed by 57 in 2021 and 127 in 2022. On August 5, 2019, the Centre scrapped Article 370, which granted special status to J&K, and Article 35A, which barred outsiders from purchasing land and property in J&K. The Union government also bifurcated J&K state into two UTs — Jammu and Kashmir (with legislature) and Ladakh (without legislature).
In response to a question on the number of companies investing in J&K post Article 370 revocation, the minister informed the Rajya Sabha that, as per information provided by the J&K government, a total of 1,559 companies, including multinational companies, have made investments in the UT.
According to data, 310 companies made investments in 2020-21, followed by 175 in 2021-22 and 1,074 in 2022-23 in J&K.J&K Lt Governor Manoj Sinha recently informed that J&K government has received private investment proposals worth Rs 66,000 crore within two years.
In neighbouring Ladakh, no land has been bought by persons from outside the UT and no company has invested in the UT during the last three years, the home minister informed the Rajya Sabha.
In Ladakh, Leh Apex Body (LAB) and Kargil Democratic Alliance (KDA), an amalgam of trade unions, social, political and religious, students groups from Ladakh, have joined hands to spearhead a campaign for the grant of 6th Schedule status, statehood with the legislature, creation of two Lok Sabha seats and reservation of jobs to locals in Ladakh UT.
The LAB and KDA have threatened to intensify the agitation to press the centre to fulfill their demands.
Meanwhile, to end the impasse in Ladakh, the central government has reached out to Ladakh bodies — Leh Apex Body and Kargil Democratic Alliance — and sought from them specific provisions they want in the 6th Schedule for the cold desert.
Cherring Dorjay Lakruk, an executive member of Leh Apex Body, said, “We will be meeting the Kargil Democratic Alliance leaders and it will be jointly decided what provisions we want for Ladakh.”
-TNIE
