New Delhi

Union Finance Minister Nirmala Sitharaman on Saturday praised Jammu and Kashmir Chief Minister Omar Abdullah for his “focused” and “determined” efforts to revive the Union Territory’s economy following a severe blow to its tourism sector earlier this year.

Speaking at the Hindustan Times Leadership Summit, Sitharaman reflected on India’s economic journey since 2019, describing it as a period shaped by a series of global and domestic disruptions. She highlighted Jammu and Kashmir as a key example of economic resilience and targeted policy intervention.

Without naming Pakistan, she referred to ongoing security challenges at India’s borders, pointing out that Jammu and Kashmir had suffered a major disruption just as its economy was gaining momentum under Central administration.

“The Centre had gone into the granular details of Jammu and Kashmir’s economy — removing the undergrowth and really pushing it so that it becomes buoyant,” she said, adding that the revival of J-K Bank is “something the country can be proud of”.

Sitharaman noted that the region’s economic recovery was progressing strongly before the April 22 terror attack in Pahalgam, in which Pakistani terrorists killed 26 people, most of them tourists, bringing the tourism sector to a sudden halt.

She said Chief Minister Omar Abdullah met her twice after the incident to discuss ways to stabilise the economy.
“I must appreciate the chief minister of J-K who met me twice — focused on restoring the economy after the tourism sector came to a standstill,” she remarked.

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Sitharaman made the observations in response to a question on the resilience of the Indian economy in an unpredictable global environment.