GST Council meet: JK CM Abdullah seeks central support for terror-hit economy
GST
Dated:- 3-9-2025
PTI
New Delhi, Sep 3 (PTI) Highlighting the devastating impact of the Pahalgam terror attack on the economy of Jammu and Kashmir, Chief Minister Omar Abdullah on Wednesday sought the Centre's support to deal with the situation.
\nThe Union Territory was facing a severe fiscal crisis as its public revenues had “collapsed” in the aftermath of the April 22 terror attack in which 26 people were killed, he said.
\nAbdullah, who also holds the finance portfolio, told the 56th GST Council meeting here, that major economic sectors including tourism, handicrafts, agriculture and horticulture had come to a standstill after the attack.
\nProposed GST reforms could further reduce the UT's revenue by 10 to 12 per cent, the Chief Minister said.
\nHe was of the view that the GST Council could go ahead with rate rationalisation proposals, but suitable mechanisms should be devised to compensate st<\/p>\n
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\nAbdullah stated that the GST reforms must consider the unique challenges faced by individual states and UTs.
\nHe detailed how the local economy had been gaining renewed vigour before being “shocked” by the “Pahalgam incident” of April 2025. This event, and its aftermath, have brought major economic sectors\u2014including tourism, handicraft, horticulture, and agriculture \u2014 to a standstill.
\nThe chief minister also urged Union Finance Minister Nirmala Sitharaman-headed GST Council to address the “geopolitical challenges” facing the country and the severe fiscal pressures on his region following the terror attack.
\nHe talked about substantial loss of jobs and businesses, and a decline in public revenues. “Today, all the sectors of economic activity, including tourism, handicraft, horticulture and agriculture are badly affected. The flight of non-local workers has slowed down development of infrastructure projects,” the chief minister said.
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