No new financial implication for business in J&K and Ladakh after abrogation of Article 370: Govt

Government today said there is no new financial implication for the business and economy in Jammu and Kashmir and Ladakh after the abrogation of Article 370.

It said specific report in this regard has not been received in regard from the local administrations. In a written reply in the Rajya Sabha, Commerce Minister Piyush Goyal said, full potential of business and economy in the region could not be realized for the last 70 years as the people of Jammu and Kashmir suffered from terrorist violence and separatism supported from across the border.

He said after the scrapping of Article 370, people of this region can now realize full potential of business. He said, under the special package announced by the Prime Minister in 2015, 63 major developmental projects in roads, power, health, tourism, agriculture, skill development and others are being implemented.