Kashmir economy suffered loss of Rs 17,878 crore in 4 months after Article 370 abrogation
Srinagar, Dec 17: The Kashmir economy suffered loss to the tune of Rs 17,878 crore in four months of restrictions and shut down in the valley following abrogation of Article 370 and creation of two union territories out of Jammu and Kashmir, a trade body said on Tuesday.
Releasing a comprehensive sector-wise report on losses due to disturbance after the August 5 announcement by Home Minister Amit Shah, the Kashmir Chamber of Commerce and Industry (KCCI) said the losses have been assessed based on Jammu and Kashmir's gross domestic product of 2017-18.
"The study has focused on the 10 districts of Kashmir Valley comprising 55 per cent of the total population of Jammu and Kashmir. A time span of 120 days has been assumed for the calculations. As per this method, Kashmir's economy has suffered a loss of Rs 17,878.18 crores," the report said.
An assessment based on actual number of unit holders and persons engaged in each sector, job and financial losses suffered by them was undertaken, it said.
"For example, the tourism sector has been broken into its various sub-sectors like tour operators (inbound and outbound), house boats, hotels, tourist transport, shikaras, adventure sports and other allied sectors. Efforts were made to make the report as inclusive as possible. The losses suffered by pony wallahs, rafting groups to photographers and guides have also been assessed," the report added.
KCCI said the present disruption has resulted in loss of jobs of lakhs of people.
Borrowers of financial institutions have lost their capacity to fulfil their commitments and a substantial number of accounts are likely to turn bankrupt, many business establishments have closed down or are contemplating closure, it said.
"The sectors directly dependent on internet like information technology and e-commerce have been ruined. The government intervention in the horticulture sector for which Rs 8,000 crore was earmarked for purchase of apples has come a cropper and caused price turmoil and panic sales," it added.
KCCI said no serious exercise has been undertaken to either assess the losses or to support the helpless farmers.
"Tourism sector is in shambles. Artisans and weavers are jobless. With estimated losses of around Rs 2,520 crore, manufacturing is in tatters," it said.
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Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
