Unrest in Valley cost `16,000 crore to state

Kashmir saw violence for 5 months after Wani was killed

Jammu, Jan. 10: Jammu and Kashmir suffered losses to the tune of over `16,000 crore during the five-month long unrest in the Kashmir Valley due to complete halt of economic activity coupled with loss of property worth crores of rupees.

“Losses caused due to the unrest from July 8 to November 30, 2016 are estimated at more than `16,000 crore,” Economic Survey 2016 report tabled by minister for finance Haseeb Drabu in the Jammu and Kashmir Assembly on Tuesday stated.

Chapter “Economies of Uncertainty and Conflict” of the report said that in 2016, the civil strife caused tremendous miseries, loss of life, complete halt of economic activity in the Valley coupled with loss of property worth crores of rupees.

“The scraping of internet services, mobile and phone services for long spells during the turmoil made communication in the state very difficult. Hartals, bandhs, stone pelting, curfews and restrictions immobilised life in all the 10 districts of the Valley,” it said.

The medical services were badly affected. Chronic patients suffering from cancer, heart diseases and those requiring dialysis, continue treatment and check up had to suffer a lot.

Lack of primary treatment resulted in death of some of the patients, it said, adding that securityrelated expenditure is over and above the losses caused due to the 2016 unrest.

On the issue of macroeconomics costs, it said the conflict has reduced per capita GDP growth, FDI inflow, exports and trade flow in the state.

The number of tourist who visited the Valley in 2015-16 stood at 6,23,932 including 2,20,490 Amarnath yatris.

“The tourist season had last year started in April and was in full swing up to July 7.

The remaining about four months remained completely tense and registered closure of all activities due to turmoil resulting in almost zero arrival of tourists in the Valley,” it said.

The disappearance of tourists during four peak months resulted in loss of business to hoteliers, restaurants, houseboats, handicrafts, poniwallas, transporters, shikara walla and so on.

It said adding the revenue loss in the second quarter of 2016-17 was of `751.97 lakh (80 per cent) compared to revenue realisation of `936.89 lakh in Q2 of 2015-16.