J&K’s first eco survey since death of Article 370 paints a rosy picture

JAMMU: Chief minister Omar Abdullah tabled Thursday J&K's economic survey in the assembly with heady data on growth and jobs, the first such dossier since the 2019 abrogation of Article 370 and the region's conversion into a Union Territory (UT).
J&K's economy is expected to grow at 7.06% in 2024-25, while unemployment rate has dipped 0.6% to 6.1% since 2019, according to the survey tabled by Omar.
Size of J&K's economy is estimated at Rs 2.65 lakh crore, and its real GSDP at Rs 1.45 lakh crore in 2024-25. The jobs report card is rosy, too.
"Unemployment recorded a dip of 0.6 percentage points to 6.1 & in 2023-24 from 6.7% in 2019-20, reflecting enhanced employment opportunities and economic dynamism," the report says.
Tourism appears to be going places, with arrivals soaring to an all-time high of 2.36 crore in 2024, the survey states.
This includes foreign tourists (0.65 lakh), Amarnath (5.12 lakhs) and Mata Vaishno Devi (94.56 lakhs). Home stays are being encouraged to accommodate visitors and generate employment.
J&K is estimated to achieve a compound annual growth rate of 4.89% in real GSDP from 2019-20 to 2024-25 compared with 4.81% from 2011-12 to 2019-20. J&K's per capita annual income at current prices is estimated at Rs 1,54,703 in 2024-25 compared with national per capita income of Rs 2,00,162.
"Per capita income of J&K is anticipated to grow 10.6% in 2024-25. Comparative analysis with northern states from 2019-20 to 2023-24 indicates J&K's per capita income grew at a compound annual growth rate of 8.3%, higher than Punjab (6.22%), Delhi (6.74%), and Himachal (6%)," survey says.
The survey projects a robust industry phase. Around 1,984 units with investments of Rs 9,606 cr and 63,710 jobs have come on stream from 2019 to Dec 2024. Investment proposals worth Rs 1.63 lakh crore have been received, with potential to generate 5.9 lakh jobs. Handicraft exports doubled to Rs 1162 cr in 2023-2024 from Rs 563 cr in 2021-22.