Srinagar, Mar 24 (KNO): Asserting that Article 370 deprived Jammu and Kashmir of peace and development, Bharatiya Janata Party (BJP) Member Parliament Satpal Sharma on Tuesday said that the Centre’s economic and welfare roadmap has put the region on the path of peace and prosperity.
While backing the Appropriation (No. 2) Bill, 2026 in Rajya Sabha, Sharma, according to the news agency—Kashmir News Observer (KNO), outlined the Centre’s economic and welfare roadmap in a detailed speech.
He said, “While the rest of India attained independence on August 15, 1947, Article 370 was imposed on Jammu and Kashmir, holding back its integration and growth.”
He said the removal of Article 370 has transformed the region. “Earlier, peace and development were missing. Today, a new environment has been created,” he said.
Sharma said for 2026–27, Rs 43,290 crore has been allocated for Jammu and Kashmir, while Rs 10,000 crore additional provisions have been made under Home Affairs.
Expressing full support for the Appropriation Bill, Sharma said it reflects a stable governance model, fiscal prudence and inclusive development.
“This budget lays the foundation for long-term growth, welfare expansion and a strong, self-reliant India,” he said.
He said the Appropriation Bill is a crucial legislative exercise that authorises government expenditure in line with the Union Budget.
“This bill enables the government to spend funds across departments and sectors where allocations have been made. It reflects governance priorities and ensures implementation on the ground,” he said.
Sharma said sustained reforms and policy continuity have placed India on a strong economic footing despite global uncertainties.
He said the nominal GDP has reached Rs 357.14 lakh crore, while foreign exchange reserves stand at 686 billion USD and the country continues to grow at around 7 per cent annually.
He added that these indicators demonstrate resilience and position India strongly on the path towards becoming a developed nation.
Referring to fiscal discipline, Sharma said the debt-to-GDP ratio for 2026–27 is estimated at 55.6 per cent.
“The government aims to bring it down to 50 per cent by 2031 and the fiscal deficit has been reduced to 4.3 per cent, improving upon earlier projections,” he said.
“This reflects a stable, long-term economic framework and responsible fiscal management,” he added.
Sharma stressed the government’s long-term goal of transforming India into a developed country by 2047, marking 100 years of independence.
“This is not just the vision of the Prime Minister but of every Indian. Development must be inclusive and capable of withstanding global shocks,” he said, stressing decentralisation and self-reliance through initiatives like “Vocal for Local.”
Highlighting social sector gains, he claimed that around 25 crore people have been lifted out of poverty due to government policies.
He also contrasted the present system with earlier welfare leakages.
“Today, through Direct Benefit Transfer, the entire amount reaches the intended beneficiary Rs 100 sent is Rs 100 received,” he said, adding that Rs 43.45 lakh crore has been transferred directly so far.
He also pointed to financial inclusion through widespread opening of Jan Dhan accounts, particularly benefiting women and rural households.
Listing flagship programmes, Sharma said under Jal Jeevan Mission, over 13 crore households have been provided tap water connections. Under Swachh Bharat Mission, more than 12 crore toilets have been constructed, improving dignity and sanitation. Under PM Awas Yojana, around 4 crore houses have been built for the poor.
Recalling his experience in Jammu and Kashmir, he said water scarcity in hilly areas was a major issue that is now being addressed through such schemes.
Sharma said the government has transferred Rs 14.27 lakh crore to the agriculture sector to strengthen farmers’ income and ensure rural stability.
He added that fertiliser stocks have been increased by 26 per cent to 163 lakh metric tonnes, ensuring food security and insulating the country from global supply disruptions.
He stressed that strengthening MSMEs is key to employment generation and economic expansion.
On national security, Sharma said Rs 26,236 crore has been allocated for defence requirements and Rs 6,144 crore for the Ex-Servicemen Contributory Health Scheme (ECHS).
He highlighted the government’s focus on “Make in India” in defence manufacturing to reduce import dependence and strengthen strategic autonomy.
Referring to financial relations with states, Sharma said 41 per cent vertical devolution has been maintained as per Finance Commission recommendations.
“This ensures that states have adequate resources for development and reflects cooperative federalism,” he said—(KNO)