The Kashmir Uprising 2016 and the Economic Crisis

Srinagar,India-JULY 19-2016:Empty shikaras lined up in the Dal Lake during a curfew in Srinagar, India on july 19, 2016. The authorities imposed a strict curfew in most parts of Kashmir valley for the eleventh consecutive day to contain protests following the killing of Hizbul Mujahideen militant commander Burhan Muzaffar Wani.(Photo by Waseem Andrabi / Hindustan Times) The Kashmir Uprising 2016 and the Economic Crisis

From a Special Correspondent in Srinagar

Whenever there has been an uprising in Kashmir, the people of J&K have always suffered loss, be it the loss of innocent lives, the loss of eye sight of youth, who are mostly between the age 5-25, or the loss of economy.

The 2016 uprising, also known as Burhan aftermath is no different from what has happened in the past. The people are not just angry because of the death of Burhan, but this is the anger that has been boiling inside of them from the last so many years, they are angry on Indian government and the Indian Army for the Atrocities done to Kashmiri people.

The Centre and the state government haven’t done much except for pumping in more armed forces, which obviously isn’t the need of the time. This in turn makes the youth angrier which leads to more deaths and more loss of J&K as a whole.

The 2016 uprising has got J&K’s economy on its knees. With no business working on ground, the state has suffered a whopping Rs 6400 Crore loss, with an average of Rs 135 Crore loss per day.

With the uprising taking place in the tourist season, the count of tourists visiting Kashmir in this season has decreased abruptly. Tourism is considered the main stay of Kashmir’s Economy and the less no of tourists means a loss to the Tourism Industry and the other industries that are associated, be it the Hotels or the Shikarawalas.

The fruit Industry of Kashmir is known all around the world and this industry holds a major place in the economy of J&K. From Rs 6400 Crore total loss, almost 900 Crore is the loss faced by the fruit Industry alone.

The state government has suffered revenue losses close to Rs.300 crores in the past one-and-a-half months. The collection of levies and taxes has come down drastically since the unrest began. The sales tax collection has been the worst hit.

Every Business sector in J&K has faced an economical blow, from the industries to the trade business, this economic crisis has left nothing untouched. The industrialists are in a catch-22 situation due to high production losses and payment of fixed monthly expenses.Many of business establishments, including hotels and industrial units, have lowered their staff strength, which has led to an increase in the number of unemployed youth in the state.

The Analysts believe that it could take at least two consecutive financial years to recover from the losses that J&K economy has suffered so far.

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