Moneycontrol
Oct 19, 2016 09:43 AM IST | Source: PTI

Assocham calls for plan to bring back economy of J&K on track

"The Assocham is concerned over the impact of problems in Jammu and Kashmir over its economy and the negative relationship between growth and strife," Assocham Secretary General D S Rawat told reporters here.


Concerned over impact of the ongoing unrest in the Valley on the state's economy, industry body Assocham said that it can help chalk out an 'Economic Revival Plan' for Jammu and Kashmir.


"The Assocham is concerned over the impact of problems in Jammu and Kashmir over its economy and the negative relationship between growth and strife," Assocham Secretary General D S Rawat told reporters here.


He further said: "We call for renewed efforts to bring the state economy back into shape by large scale drive to boost tourism, handicraft, horticulture, livestock and forestry sector."

The body suggests a well coordinated approach between the central and state economic agencies in consonance with the law enforcement organs to somehow get the business back into the valley, he said.


"Whatever it takes, the sustainable solution lies in the economic development of the state and the Assocham would be happy to chalk out an 'Economic Revival Plan' for the state, from the point of short-term, medium term and long term," Rawat said.


He said that the gross state domestic product (GSDP) of the state at constant prices (2004-05) for financial year 2014-15 is estimated at Rs 45,126.30 crore.


The sectoral composition of the state income has undergone considerable change over a period of time, he said.


"Over the last five decades, the share of primary sector has declined steadily from 28.16 per cent in 2004-05 to 17.83 per cent in 2014-15 and the share of secondary sector has declined from 28.13 percent in 2004-05 to 25.53 per cent in 2014-15. While share of service sector has substantially increased from 43.71 per cent in 2004-05 to 56.64 per cent in 2014-15," Rawat said.

He said that with the help of the state government and the local agencies, all out efforts must be made to ensure that advantage is taken of the good rains in the monsoon season for getting better harvest from the agriculture and horticulture.

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