Srinagar: Jammu and Kashmir has made significant progress in the last two years after the abrogation of Article 370 and the 70-year lag has ended, Union Finance Minister Nirmala Sitharaman said on Monday.
Sitharaman, who is on a two-day visit to Jammu and Kashmir, began her tour from Srinagar, the summer capital of Jammu and Kashmir, where she inaugurated the Income Tax office for Kashmir valley at Rajbagh.
This is the first visit of the Finance Minister to Kashmir after the abrogation of Article 370 on August 5, 2019.
Speaking at the function, Sitharaman said that Jammu and Kashmir has the potential of generating 20,000 megawatt of hydropower but due to the disinterest of previous ruling regimes they could not utilize this potential.
"The hydropower generation could have provided electricity to Jammu and Kashmir all year round besides generating economy for it by selling power to northern India," she said.
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The Minister said that the abrogation of article 370 has opened vistas of development for Jammu and Kashmir which didn't happen in the last 70 years.
"The development was hampered because of article 370," she said.
She said in the last two years, Jammu and Kashmir has made significant progress as 21 major development projects were completed.
She said that with the opening of the income tax office in Srinagar, tax collection will become smooth and problems of taxpayers will be resolved instantly at their doorsteps.
The finance minister presided over a programme with different stakeholders at SKICC and also interacted with women entrepreneurs of the Valley.
The minister will leave for the Jammu district on Tuesday where she will preside over different programmes and will address the media.
