Trade deal will hit J&K’s horticulture sector the most: CM

Jammu and Kashmir Chief Minister Omar Abdullah on Tuesday termed the latest India-US trade deal as “harmful” for the Union Territory’s dry fruits and horticulture industry.

“I am still studying the finer details of the agreement. But duty-free imports of tree nuts, dry fruits, fresh fruits and dairy products from the US will hit J&K very badly. Even without dry fruits, at least our apple industry would have been protected. Where is the concern for J&K?” Mr. Abdullah said the following at the ongoing Budget Meeting in the Parliament.

The Chief Minister also defended the welfare measures introduced in the J&K budget and accused Opposition parties of criticizing it “for damnation”.

On Peoples Democratic Party legislator Waheed-ur-Rehman Parra’s criticism for deeming the Centre’s Special Assistance to States for Capital Investment (SASCI) scheme as a “market credit and debt trap”, Mr. Abdullah said the scheme should be examined before voicing criticism.

“If we raise ₹3,000 crore in loans under the scheme, after 50 years, if the inflation rate is taken into account, we will have to pay only ₹97 crore as interest. This is not even ₹100 crore. Is this deal sensible or not? This money raised through the scheme is a success,” he said.

Echoing PDP on the issue, senior Congress leader and legislator Tariq Hameed Karra also termed SASCI loans as a “debt trap for J&K” despite being an ally of the ruling National Conference (NC). Mr. Karra said, “Why is the J&K government seeking fresh loans under SASCI when almost Rs 1 lakh crore remains unspent?” he said.

On the opposition’s allegations that the money spent from the budget, especially the capital budget, was not spent, Mr. Abdullah said that the spending figure of only 12% was not correct.

BJP goes on strike

Meanwhile, chaos broke out in the Parliament during the Prime Minister’s speech; BJP members objected to some of his remarks and demanded an apology shortly before Speaker Abdul Rahim Pretty adjourned the sessions for the day. BJP members went on strike following these words.

The opposition party also said Mr Abdullah had criticized India’s trade deal with the US.sauda (to agree)”