At 32.8% unemployment rate, KCCI seeks policy intervention to address joblessness

Srinagar, February 15: The Kashmir Chamber of Commerce and Industry (KCCI) delegation today participated in the ‘Budget Pe Charcha 2025’, hosted by the Minister for Parliamentary Affairs and Minority Affairs, Kiren Rijiju, at the Amar Singh Club, Srinagar.

The discussion focused on the recently announced Union Budget 2025 and its vision of driving India towards moving up in the ranks of global economic powers.

A statement said that the KCCI delegation, comprising Secretary General, Faiz Ahmad Bakshi, and Joint Secretary General, Umar Nazir Tibetbaqal, welcomed the progressive aspects giving push to agriculture, infrastructure and budget proposal to increase the income tax exemption limits, which is expected to provide significant relief to the middle-income group and boost economic activity.

During the interactive session, KCCI appreciated the growth in SGDP, tourism, and horticulture sectors in Jammu & Kashmir during the past few years. However, it brought attention to several critical issues faced by Jammu and Kashmir, to the notice of the Union Minister with a special emphasis on the region's unemployment rate.

Quoting the Union Ministry of Statistics and Programme Implementation's report, KCCI noted that the unemployment rate in J&K stands at an alarming 32.8%, significantly higher than in other states. He urged that the Central government initiate focused schemes to address this crisis and to promote sustainable livelihood opportunities for the youth of Jammu and Kashmir. The KCCI lamented over non-inclusion of a package for Jammu & Kashmir in the budget.

The delegation also voiced concerns regarding the declining state of Kashmir's traditional handicrafts sector, which has witnessed a drastic fall in recent years. Highlighting the importance of the handicrafts industry to the region's economy and cultural heritage, KCCI pressed for better opportunities for the handicrafts sector, and improved marketing platforms at national and international levels.

KCCI also discussed issues faced by the health and education sector.

Another important issue raised during the discussion was the need for Skill development / IT/startups/ entrepreneurs/businesses by adopting Ease of Doing Business in the true sense.

The delegation stressed the need for the establishment of dedicated programmes and incentives for industry, with a focus on women entrepreneurship and new agricultural product innovations. They also urged the government to create simplified policies to encourage young entrepreneurs in J&K. KCCI also raised the issues about Health and educational sectors.

The urgent need for the operation of International Flights, the upgradation of Srinagar Airport, the development and promotion of tourist destinations, and addressing environmental and waste management issues were also brought to light by the KCCI delegation. They emphasised the urgent need to address these challenges through sustainable practices and increased awareness programs about numerous Government of India Schemes which remained unimplemented/non-utilized. Moreover, they called for targeted investments in environmental conservation and effective waste disposal mechanisms.

The loss of open spaces in urban environments presents a serious challenge for younger generations, particularly as they grapple with rising rates of drug addiction.

During the meeting, the KCCI delegation also proposed measures for enhancing women’s development and strengthening.

Union Minister Rijiju assured that the budget remains flexible and responsive to public needs. He stated that all suggestions will be carefully considered. The delegation expressed their sincere thanks to Kiren Rijiju for providing an open platform for meaningful discussions and assured that KCCI would continue to extend its support to the government in achieving the vision of a $5 trillion economy while addressing the specific needs of Jammu and Kashmir, the statement said.

KCCI told the Union Minister that they are conscious of the fact the concerns raised by it fell in the domain of the UT Government but the purpose of raising these issues was an appeal to the Central Government about granting generous funding to Jammu & Kashmir Government