Jammu, Feb 10: The Jammu and Kashmir administration’s decision to seek fresh loans under a Central scheme faced sharp criticism from the Opposition during the budget discussion in the Legislative Assembly on Tuesday, with leaders questioning the rationale for additional borrowing when, they claimed, nearly ₹1 lakh crore of funds remain unutilised and capital expenditure is low.
Speaking to Kashmir Convener outside the assembly, Peoples Democratic Party (PDP) legislator Waheed-ul-Rehman Para said only around 12 per cent of the budget had been utilised for capital expenditure so far, and funds under the UT Capex were lying unspent. “Why are you taking loans?… We told you that you are taking loans for land and infrastructure. You didn’t ask people,’’ he said.
MLA Para linked the issue to broader political concerns, warning against the “mortgaging’’ of J&K. “By mortgaging J&K, by putting our institutions on sale, you will not have a government,’’ he said.
Invoking former Governor Satyapal Malik’s past remarks, he added, “Tomorrow, if Gulmarg, Pahalgam, Srinagar — if we put all our land on sale, who will we ask?’’ Para demanded an exclusive debate on loans under the Centre’s Special Assistance to States for Capital Investment (SASCI) scheme, calling it a “very sensitive issue.’’
Meanwhile, Jammu and Kashmir Pradesh Congress Committee (JKPCC) chief Tariq Hamid Karra also questioned the fiscal management behind seeking new loans when substantial funds were unused. “If such a large amount remains unutilised, what is the justification for taking fresh loans?’’ Karra asked.
He stressed that capital expenditure was key for infrastructure and employment, and poor utilisation raised questions about development priorities.
Karra cautioned that increased borrowing would add to the UT’s financial burden and sought clarity on how existing funds would be deployed effectively.
Notably, The criticism comes amid ongoing discussions on J&K’s budget for the upcoming fiscal year.
The SASCI scheme, a Central initiative to support state capital investment, has been a source of funding for infrastructure projects in various states and UTs. However, the Opposition’s charge of low utilisation of existing resources points to a deeper debate on implementation capacity and fiscal planning in the Union Territory.
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