The PMDP, announced by Prime Minister Narendra Modi on November 7, 2015, was conceived as a comprehensive reconstruction and development plan for Jammu and Kashmir and Ladakh, with an overall financial outlay of Rs 80,068 crore.

The package was structured around five pillars – humanitarian relief, crisis management, social infrastructure, development projects and economic infrastructure – aimed at addressing long-standing developmental gaps and post-crisis needs.

Originally comprising 63 projects, the PMDP was rationalised after the reorganisation of the erstwhile state into Union Territories of J&K and Ladakh in August 2019.

As a result, 53 projects remained applicable to J&K.

According to official data up to November 2025 accessed by Greater Kashmir, 29 projects have been fully completed, including nine implemented by the Government of India and 20 by the J&K government.

In addition, 14 projects – four central and 10 UT-level – have been declared substantially completed.

Together, this places 43 out of 53 projects, or 81.13 percent, in the completed or near-completion category.

“Financial progress under the PMDP has also been described as robust. Of the Rs 56,946.58 crore released so far for the 53 projects, an amount of Rs 54,986.17 crore has been spent, translating into a utilisation rate of 96.56 percent of the released funds. The overall expenditure stands at nearly 80 percent of the total sanctioned cost,” the data reveals.

A senior official from the Planning Department said that sustained monitoring and coordination had played a key role in maintaining momentum despite multiple challenges.

“Large infrastructure projects inevitably faced hurdles such as land acquisition, forest clearances, shifting of utilities and ongoing legal proceedings. These issues initially slowed execution, but focused intervention and inter-departmental coordination helped clear most bottlenecks,” the official said.

As per the Planning Department’s summary, central sector projects under the PMDP had an original outlay of Rs 26,971 crore, while state projects accounted for Rs 31,513.63 crore. Subsequent revisions, particularly in major road and infrastructure works, pushed the combined sanctioned cost to Rs 68,905.39 crore.

Expenditure against sanctioned cost has reached 83.73 percent for central projects and 73.70 percent for UT projects.

Officials said utilisation against funds released is close to full for central projects at 99.74 percent, while J&K projects have recorded over 91 percent utilisation, reflecting improved execution capacity and financial discipline.

With most projects either completed or nearing completion, the Planning Department said the focus has now shifted to expediting the remaining works and ensuring that the intended economic and social benefits of the PMDP are fully realised across J&K.

The post Over 81% PMDP projects completed in J&K appeared first on Greater Kashmir.

“In our time, winter did not begin until Hoggard was ready,” says 68-year-old Ghulam Hassan of Bandipora, pointing to an empty courtyard where rows of fish once hung. “The smell would spread through the mohalla. No one complained. It meant we were prepared.”

Hoggard, derived from Hokh (dry) and Gadda (fish), evolved as a survival strategy in a land where winter snowfall once sealed off villages for months. With roads blocked and fresh food scarce, families depended on preserved foods—dried fish, turnips and vegetables—to get through the cold season.

“People talk about Wazwan and grand feasts,” Hassan says, smiling faintly. “But it was food like Hoggard that kept poor families alive.”

The preparation of Hoggard begins months before winter. Fishermen from the Hanji community catch snow trout and other local fish during late summer and autumn. The fish are cleaned, lightly roasted, wrapped in cloth and hung under the sun to dry gradually.

“It takes patience,” says Fatima Begum, 56, who has been preparing dried fish since her teenage years. “You must know when the sun is right, when moisture is low. One mistake and the fish spoils.”

She adds that women traditionally handled much of the drying and storage. “Our mothers taught us by showing, not by explaining. Now there is no one to teach.”

When winter sets in, the dried fish are soaked, washed and cooked in mustard oil with garlic, tomatoes, red chilli and fennel. The dish—*Hoch Gaade*—is unmistakable in smell and taste.

But that powerful aroma no longer finds favour with many young Kashmiris.

“My children don’t like it at all,” Fatima says. “My daughter tells me, ‘Don’t cook it when I come from Srinagar. The smell stays in the house.’ It hurts, but what can we do?”

The generational divide is stark. Younger people, accustomed to year-round vegetables, chicken and fast food, find preserved fish overwhelming. “They want pizza and noodles,” Hassan says. “This food belongs to another time for them.”

Improved connectivity has also reduced the need for preservation. Trucks carrying fresh produce now reach even remote villages in winter. “Earlier, we had no choice,” says resident Abdul Rashid. “Now, why struggle with drying fish when vegetables are available?”

For fishing communities, however, the decline of Hoggard is not just about taste—it is about identity.

“This is who we are,” says Mohammad Ashraf, a fisherman whose family has lived off Wular Lake for generations. “When Hoggard disappears, our connection to the lake weakens.”

Ashraf says environmental degradation has made the practice increasingly difficult. “Earlier, our boats returned full. Now, sometimes we come back with almost nothing. Pollution, silt, weeds—the lake is dying.”

According to fishermen, dwindling catches mean there is barely enough fish for daily meals, let alone drying for winter. “How can we make Hoggard when there is no fish?” Ashraf asks.

Many fishermen have already left the trade. “Some work as labourers, some drive autos,” he says. “When fishing goes, the tradition goes with it.”

Observers warn that Hoggard may vanish quietly, without notice. “This is not restaurant food, so no one markets it,” says a Srinagar-based food researcher. “But it tells us how Kashmiris survived winter before electricity, before highways.”

She adds that preserving such traditions is as important as saving monuments. “Once this knowledge is gone, it cannot be revived from books.”

Despite the decline, a few households still prepare Hoggard every winter, holding on to habit and memory. For them, the smell carries comfort.

The post The Fading Aroma of Winter: Kashmir’s sun-dried fish tradition struggles to survive appeared first on Greater Kashmir.

Why Gold Prices Are Climbing

Gold has always held a special place in Indian, and particularly Kashmiri, households—not just as jewelry but as a reliable store of value during uncertain times. The recent surge to Rs 13,000 per gram reflects global economic uncertainty, currency fluctuations, and persistent inflation. For Kashmiris accustomed to buying gold for occasions or as emergency savings, these prices have made physical gold increasingly out of reach.

A simple calculation illustrates the challenge: buying even 10 grams of gold now requires Rs 1.30 lakh upfront, plus making charges of 8-15% (an additional Rs 10,000-20,000), along with GST. For most salaried individuals or small business owners, this represents months of savings.

What Are Gold ETFs?

Gold ETFs are mutual funds that invest in physical gold and trade on stock exchanges like individual stocks. Each unit of a Gold ETF typically represents one gram of gold (though this varies by fund), held in dematerialised form in your demat account.

Think of it this way: instead of buying a gold coin and storing it in a locker, you’re buying paper units that represent actual physical gold stored securely in vaults. You can buy as little as one unit—equivalent to roughly one gram of gold—making it accessible even to those with limited capital.

How Kashmiris Can Start Small

Here’s what makes Gold ETFs particularly attractive for Kashmiri investors:

Start With One Gram: Unlike physical gold where you might need to buy at least a small coin or jewelry piece, Gold ETFs allow you to start with investment equivalent to just one gram. At current prices of Rs 13,000 per gram, you can begin your gold investment journey with around Rs 13,000-13,500 per unit.

No Making Charges: Physical gold jewelry comes with making charges of 8-15%. A Rs 50,000 jewelry purchase might include Rs 5,000-7,500 in making charges alone. Gold ETFs have no such charges—you pay only the gold price plus minimal brokerage (0.5-1%).

Systematic Investment Plans: Just like a recurring deposit, you can invest small amounts regularly through SIPs in Gold Mutual Funds (which invest in Gold ETFs). Invest Rs 1,000-2,000 monthly and accumulate gold gradually.

No Storage or Security Worries: Physical gold requires secure storage—bank lockers, home safes, or worry about theft. Gold ETFs eliminate this entirely. Your investment sits safely in your demat account.

Easy to Liquidate: Need cash urgently? Physical gold requires finding a buyer, getting it assessed, often selling at a discount. Gold ETFs can be sold during market hours (9:15 AM-3:30 PM) and money reaches your bank account in two days.

How to Invest: A Simple Guide

Step 1:

Open a Demat and Trading Account

You need a demat account (to hold ETF units) and trading account (to buy/sell). Open these with any broker—Zerodha, Groww, Angel One, HDFC Securities, ICICI Direct. The process is entirely online and takes 24-48 hours. You’ll need your PAN card, Aadhaar, bank details, and a smartphone.

Step 2:

Complete KYC

Submit documents online for KYC verification. Most brokers complete this digitally within a day.

Step 3:

Add Funds

Transfer money from your bank account to your trading account. Even Rs 13,000-15,000 is enough to start with one gram equivalent.

Step 4:

Search for Gold ETFs

Log into your broker’s app or website. Search for popular Gold ETFs such as:

– SBI Gold ETF

– HDFC Gold ETF

– ICICI Prudential Gold ETF

– Nippon India Gold ETF

– Kotak Gold ETF

Step 5:

Place Your Order

Enter the number of units you want to buy. Each unit represents approximately 1 gram of gold. You can place a market order (buy at current price) or limit order (set your price).

Step 6:

Hold or Sell When Needed

Your Gold ETF units will appear in your demat account. Sell them anytime during market hours when you need money or want to book profits.

Smart Investment Tips for Kashmiris

Don’t Put Everything in Gold: Financial advisors recommend allocating only 5-10% of your investment portfolio to gold. It’s a hedge against inflation and economic uncertainty, not a primary growth investment.

Think Medium-Term: Gold typically delivers 8-10% annual returns over the long run. It’s best suited for 3-5 year investment horizons rather than quick gains.

Watch the Prices: Gold prices fluctuate daily based on global markets. Buy when prices dip, just as you would wait for favorable rates when buying physical gold.

Consider Taxes: If you sell Gold ETFs within three years, gains are taxed as per your income tax slab. After three years, long-term capital gains tax of 20% with indexation applies. Physical gold follows the same tax rules.

Check Expense Ratios: Gold ETFs charge an annual expense ratio of 0.5-1%. Compare different ETFs and choose one with lower costs and good trading volume.

Kashmir’s economy has traditionally relied heavily on cash savings and physical gold. With limited formal investment culture and banking penetration improving only recently, many families keep wealth in physical form. But with gold prices at Rs 13,000 per gram—historic highs—this strategy has become expensive and risky.

Gold ETFs democratize access to gold investment. A shopkeeper in Lal Chowk, a teacher in Baramulla, or a student saving pocket money in Anantnag can now participate in gold investment with amounts as small as Rs 13,000-15,000. No need to save for years to afford 10 grams of physical gold.

Moreover, during festivals or wedding seasons when gold buying peaks in Kashmir, ETFs offer an alternative that preserves wealth without the premium costs of jewelry.

Gold at Rs 1.37 lakh per 10 grams doesn’t mean Kashmiris must abandon gold as an investment. Gold ETFs provide a modern, affordable, and secure way to own real gold—backed by actual physical gold stored in vaults and regulated by SEBI.

Whether you’re a young professional starting your investment journey, a parent saving for a child’s future, or someone seeking to diversify beyond bank fixed deposits, Gold ETFs offer a practical entry point. Start small, invest regularly, and build your gold holdings over time—without the making charges, storage headaches, or security concerns that come with physical gold.

The gold may be digital, but the security and value are as real as the bangles in your grandmother’s jewelry box.

The post Gold hits Rs 13,000 per gram: How Kashmiris can still invest with small amounts appeared first on Greater Kashmir.

What Does the Package Include?

The package has two main components to be rolled out over six years (2025-31):

Interest Subvention Scheme (Rs 5,181 crore): This provides a direct subsidy on the interest rates exporters pay for pre-shipment and post-shipment export credit. Currently, MSMEs pay between 9.5 per cent and 12.5 per cent for export credit. Under the scheme, eligible MSME exporters will receive subsidy benefits ranging from 2.75 per cent, significantly reducing their borrowing costs.

The subsidy is capped at Rs 50 lakh per firm annually, but this will still cover 75 per cent of all product categories—over 12,000 tariff lines. The scheme has been resumed after a one-year gap, with the previous scheme having expired in December 2024.

Collateral Support (Rs 2,114 crore): This addresses another major hurdle for small exporters—the lack of collateral to secure loans. Under this measure, the government will provide credit guarantee support for export-linked working capital loans up to Rs 10 crore per firm. Micro and small exporters will get up to 85 per cent guarantee coverage, while medium exporters will receive up to 65 per cent coverage.

Kashmir Context: Who Can Benefit?

Kashmir’s export sector, dominated by MSMEs in handicrafts (carpets, papier-mâché, walnut wood carving, pashmina), horticulture products (apples, saffron, dry fruits), and emerging manufacturing units, stands to gain substantially from these measures.

Local exporters have long struggled with high credit costs and collateral requirements, often relying on personal assets or foregoing expansion opportunities altogether. The package directly addresses these pain points, potentially enabling Kashmir’s artisans and traders to access working capital at more competitive rates.

For instance, a Srinagar-based carpet exporter or a Sopore fruit trader seeking pre-shipment credit can now avail loans at substantially reduced interest rates, improving their margins and competitiveness in international markets like the US, Europe, and Gulf countries.

The collateral support is particularly significant for Kashmir’s small-scale exporters who often lack adequate assets to pledge against loans.

How Will It Work?

The interest subvention rates will be reviewed biannually in March and September based on domestic and global interest rate benchmarks. When policy rates fall, the subsidy will also decrease proportionately. Additional benefits will be provided to MSMEs exporting to new and emerging markets, though details are yet to be notified—a provision that could particularly benefit Kashmir exporters looking to diversify beyond traditional markets.

The Reserve Bank of India will implement the interest subvention scheme along with the Directorate General of Foreign Trade, whilst the Credit Guarantee Fund Trust for Micro and Small Enterprises will handle the collateral support. Both measures will initially be rolled out on a pilot basis with scope for refinement based on feedback.

The schemes apply to exports from a selected positive list of products, including defence and SCOMET (Special Chemicals, Organisms, Materials, Equipment and Technologies) products. However, restricted items, waste and scrap, and products already covered under production-linked incentive schemes are excluded.

Kashmir’s traditional export items like handicrafts and horticulture products are expected to be covered under the positive list, though final guidelines will clarify the exact scope.

This package addresses two critical challenges faced by Kashmir’s MSME exporters: high borrowing costs and lack of collateral. By reducing the cost of credit, local exporters can price their products more competitively in international markets, particularly important at a time when global trade faces headwinds from high tariffs imposed by countries like the United States.

Kashmir’s handicraft sector, which employs lakhs of artisans and contributes significantly to the local economy, has often been constrained by limited access to affordable finance. The package could enable carpet weavers, papier-mâché artists, and pashmina traders to scale up production, meet larger international orders, and explore new markets.

Similarly, horticulture exporters from Sopore and Shopian, dealing with perishable produce, require quick access to credit for packaging, cold storage, and transportation. Lower interest rates and easier collateral norms can make these operations more viable and profitable.

The measures are part of a larger Rs 25,060-crore Export Promotion Mission approved in November 2025. The first component—market access support worth Rs 4,531 crore—was rolled out on December 31, 2025, making this the second major intervention.

Local exporters should stay informed about the detailed guidelines to be released by the RBI and DGFT. The pilot rollout phase will be crucial for providing feedback on implementation challenges specific to Jammu and Kashmir, such as connectivity issues, documentation requirements, and awareness gaps.

The post Explainer: How Centre’s Rs 7,295 Cr export package can benefit Kashmir’s exporters appeared first on Greater Kashmir.

The Kashmir Power Development Corporation Limited (KPDCL) had filed a petition before JERC, which, while not proposing a general tariff increase, included a 20 percent ToD surcharge during peak hours—a move that sparked strong opposition from traders and manufacturers across the valley.

On Thursday, JERC issued an order explicitly stating that ToD charges will not apply to domestic consumers, effectively meaning no power tariff hike for households.

Welcoming the decision, Javid Ahmad Tenga, President of the Kashmir Chamber of Commerce and Industry (KCCI), said the Chamber appreciates putting ToD on hold until the end of March but strongly demands that the proposal be abandoned permanently.

“There is no perceptible improvement in the economy, as evidenced by continued trends in GST collections. An increase in tourist footfall during the New Year and Christmas period is no reason to hike power charges through ToD,” Tenga said.

“We have filed detailed objections before JERC opposing the peak-hour surcharge on multiple grounds, including the lack of adequate power infrastructure to justify differential pricing, the absence of smart metering systems to accurately track consumption during specific hours, and the additional financial burden it would place on businesses already struggling with high operational costs,” he said.

Kashmir Traders and Manufacturers Federation, President Mohammad Yaseen Khan, described the announcement as “much-needed relief for traders, manufacturers, small businesses and households, especially when input costs across sectors remain under pressure.”

Khan emphasised that affordable and predictable electricity pricing is crucial for economic stability and business confidence in the region.

“Importantly, Jammu and Kashmir did not witness any routine power curtailment schedules this year, which for decades had been a harsh reality for businesses and consumers. The absence of regular, pre-announced power cuts marks an improved shift from the past and has contributed to smoother business operations, reduced losses and improved quality of life,” Khan said.

He noted that curtailment schedules were treated as the norm in Kashmir for decades, severely impacting trade, industry and daily life. “It is encouraging to see a move away from that legacy.”

KTMF urged the government to continue strengthening power infrastructure, improving distribution efficiency and ensuring uninterrupted supply, particularly during peak winter and business hours, to enable sustainable economic growth.

President of the Kashmir Trade Alliance, Aijaz Shahdhar, also welcomed the decision, noting there is a need for amnesty for commercial consumers as well.

“It is a good move that there is no increase in power tariff,” he said.

The post No Power Tariff Hike: Kashmir trade bodies welcome JERC order appeared first on Greater Kashmir.

Official figures show that GST collection in J&K stood at Rs 592 crore in December 2025, down from Rs 642 crore in December 2024.

This marks the third consecutive month of decline in GST revenues for J&K.

In November, GST collections had dropped by 14 percent to Rs 677 crore compared to Rs 789 crore in the corresponding month last year.

October had also recorded a downturn, with collections falling 9 percent to Rs 551 crore from Rs 608 crore a year earlier.

The slide in revenues began earlier in the year.

In May, J&K’s GST collection plunged to Rs 422 crore, a steep fall of over Rs 360 crore compared to April’s Rs 789 crore mop-up, reflecting a sharp contraction in economic activity that officials say has had lingering effects on trade and commerce.

Officials attribute the sustained decline to subdued business sentiment and weak consumption, particularly after the April attack, which impacted tourism, retail trade, and allied services – key drivers of the local economy.

“Trade and commercial activity has remained tepid for several months, especially in tourism and retail, and that is clearly reflected in GST numbers,” an official said.

The slowdown in J&K stands in contrast to the national GST picture.

Across India, central and state governments collected Rs 1.75 trillion in GST in December before adjusting for refunds, registering a 6.1 percent increase over the year-ago period.

After refunds, net GST revenue stood at Rs 1.46 trillion, up 2.2 percent year-on-year.

A significant driver of this growth was a sharp rise in import-related taxes.

Integrated GST (IGST), which is levied on imports, grew by nearly 20 percent annually to Rs 51,977 crore in December, pointing to strong external trade flows.

Economists note that a large share of imports feed into export-oriented production.

IGST is imposed on imports to ensure that imported goods are taxed at the same rate as domestically produced goods subject to GST.

Basic Customs Duty (BCD), which provides tariff protection to the domestic industry, is levied separately, and its proceeds are not included in GST collections.

Officials said this import-led buoyancy in GST collections has had a limited spillover effect in Jammu and Kashmir, where the economy is less integrated with large-scale manufacturing and export supply chains.

The revenue pressure in J&K has also been compounded by GST rate rationalisation.

At a FICCI event held in Srinagar in October, Chief Minister Omar Abdullah said that the revision of GST rates undertaken earlier this year was likely to reduce J&K’s overall fiscal earnings by Rs 900 crore to Rs 1000 crore.

A senior central government official said that while GST growth at the all-India level has been strong in sectors such as FMCG, pharmaceuticals, food products, automobiles, medical devices, and textiles – where rate rationalisation was implemented – the benefits have been uneven across regions.

“J&K’s economy is heavily dependent on services like tourism and retail, which have seen a slower recovery. That explains why the local GST performance is weaker compared to the national trend,” the official said.

With GST forming a major component of J&K’s own tax revenue, officials said the continued dip could pose challenges for fiscal planning in the coming months, particularly as the government looks to sustain public spending and revive growth.

The post J&K GST collection falls 8% in December appeared first on Greater Kashmir.

During the same period, the Jammu and Kashmir State Power Development Corporation (JKSPDC) generated 4255.47 million units (MU) of hydel power up to the end of November 2025.

Despite these figures, J&K’s power sector is grappling with an acute financial crisis, with a projected revenue gap of over Rs 4200 crore for FY 2025-26, driven primarily by a sharp decline in local power generation and a steep rise in the cost of electricity imports.

Electricity generation from locally owned projects and NHPC-operated hydropower plants has fallen by nearly 70 percent due to reduced water discharge in rivers.

This shortfall has forced Jammu and Kashmir to import nearly 3000 MW of power from outside sources, significantly increasing the financial burden on the distribution utilities.

The shift from relatively inexpensive local hydropower to costly imported electricity has sharply pushed up expenditure.

Power purchase cost, including transmission charges, has been projected at Rs 5924.15 crore for FY 2025-26, up from Rs 5620.88 crore in the current fiscal.

This component alone accounts for about 87 percent of the total revenue requirement of the power sector.

The Annual Performance Review for FY 2024-25 and the Aggregate Revenue Requirement for FY 2025-26 place the total revenue requirement at Rs 6827.18 crore.

However, revenue realisable at existing tariffs, even with an assumed collection efficiency of 93 percent, has been estimated at just Rs 2688.99 crore, leaving a revenue gap of Rs 4136.03 crore.

“The revenue gap remains a serious concern for the power sector in J&K,” a senior official of Kashmir Power Distribution Corporation Limited said. “Despite efforts to improve operational efficiency and reduce losses, the rising cost of power purchase and inadequate recovery through existing tariffs continue to exert tremendous pressure on the system.”

One of the biggest structural challenges continues to be extremely high distribution losses. Aggregate Technical and Commercial (AT&C) losses are projected to decline only marginally from 47.79 percent to 46.41 percent in FY 2025-26, nearly three times the national average of 15-20 percent.

This implies that of every 100 units of electricity purchased, fewer than 54 units are actually billed and realised, with the rest lost to technical inefficiencies, theft, and billing gaps.

Officials attribute the collapse in local generation to multiple factors, including sharp seasonal variations in water flows, prolonged maintenance shutdowns at key generating stations, ageing infrastructure, and reduced water availability linked to changing precipitation patterns.

Delays in planned capacity additions due to environmental clearances and funding constraints have further compounded the problem.

The post PDD collects Rs 3208 crore revenue from consumers appeared first on Greater Kashmir.

In its tariff order issued on December 31, the Joint Electricity Regulatory Commission (JERC) directed that domestic consumers shall continue to be billed under the existing tariff structure, notwithstanding the Union Ministry of Power’s push for nationwide implementation of ToD tariffs.

Referring to the central mandate, the commission said, “Ministry of Power, Government of India, under the Electricity (Rights of Consumers) Rules, 2020, has mandated that the ToD tariff shall be charged during peak hours at 20 percent higher than the normal period tariff.”

However, the commission clarified that this provision would not apply to domestic consumers at this stage.

“The same is already included in the existing tariff, and so, the surcharge is continued as 20 percent,” the order states, adding that its applicability is restricted in scope.

Clearly defining the categories covered, the commission ruled, “ToD tariff will be applicable for HT consumers getting supply at 33 kV or higher level. The rebate of 20 percent is applicable for solar hours.”

This effectively exempts domestic and other low-tension consumers from the peak-hour surcharge during the ongoing tariff period.

Officials said the decision follows the Jammu and Kashmir government’s choice to continue subsidised power for the domestic segment, particularly in view of winter demand patterns and economic conditions in J&K.

The commission acknowledged stakeholder participation in the process, recording that “several points were raised and discussed during the State Advisory Committee (SAC) meeting, which have been duly noted by the commission.”

While granting relief to households, JERC approved a combined Aggregate Revenue Requirement of nearly Rs 6900 crore for the two distribution companies for FY 2025-26.

The order also flags a combined revenue gap of over Rs 1430 crore, arising mainly from high power purchase costs and dependence on imported electricity during winter.

At the same time, the commission took a firm view on efficiency, underlining that losses cannot be loaded onto consumers.

“The actual losses cannot be considered, and inefficiencies cannot be passed on to the consumers,” the order states, while applying the loss trajectory approved under the Revamped Distribution Sector Scheme.

The commission further observed that while government support continues in the transition phase following the unbundling of the power sector, “the financial support and grant-in-aid provided initially needs to be gradually phased out over the period.”

The tariff order has come into force from January 1, 2026, and will remain valid till March 31, 2026, unless amended or extended.

For domestic consumers, electricity will continue to be supplied at existing rates, with no ToD-based peak-hour surcharge during this period.

The post No power tariff hike: JERC | 20% peak-hour ToD surcharge put on hold appeared first on Greater Kashmir.

The strong performance signals exceptional momentum in J&K’s banking sector from April to September 2025.

Official data shows that the credit was extended across 10,06,737 loan accounts, registering a robust 23 percent year-on-year growth.

With an annual credit target of Rs 63,679.13 crore for FY 2025-26, banks have already surpassed more than two-thirds of the planned amount, covering around 57 percent of the total account target of 17.6 lakh.

Banking sources said that lending rates during the period varied widely across segments, ranging from 7.25 percent at the lower end to about 14 percent at the higher end.

Priority sector lending continued to lead the credit expansion.

During the first half of FY26, banks disbursed Rs 22,428.93 crore to the priority sector across 6,14,089 accounts, marking a 25 percent year-on-year growth.

This represents 52 percent achievement of the annual amount target and about 49 percent of the account coverage goal for the segment.

Non-priority sector lending also recorded a strong showing.

Banks disbursed Rs 20,588 crore across 3,92,648 accounts in this category, registering 20 percent growth.

Notably, the non-priority sector has already achieved 101 percent of its full-year target of Rs 20,366.96 crore in just six months, effectively surpassing the annual goal ahead of schedule.

Private sector banks emerged as key drivers of the credit surge, disbursing Rs 18,042.63 crore in priority sector lending alone, a 25 percent increase over the corresponding period last year.

They have achieved 65 percent of their annual priority sector target of Rs 27,890.26 crore.

Public sector banks recorded the highest growth rate of 30 percent year-on-year in priority sector lending, though their total disbursement stood at Rs 2989.90 crore across 53,094 accounts, covering about 33 percent of their annual target.

Regional Rural Banks posted a 27 percent growth, disbursing Rs 1324.31 crore across 1,19,610 accounts, while Cooperative Banks were the only segment to see a decline, with lending falling 19 percent to Rs 72.10 crore.

The strong credit offtake has been supported by improving banking fundamentals in J&K.

Total deposits grew 8 percent year-on-year to Rs 2,03,524 crore in the first half of FY26, enhancing banks’ lending capacity. Total advances, excluding RIDF, rose 6 percent to Rs 1,24,780 crore.

Priority sector advances increased sharply by 17 percent to Rs 54,520 crore and now account for 44 percent of total advances, up from 40 percent a year ago.

Asset quality also showed improvement, with gross non-performing assets declining by 22 percent year-on-year to Rs 3968 crore from Rs 5073 crore.

The credit-deposit ratio stood at 61.31 percent, marginally lower than 62.32 percent in the same period last year, reflecting faster growth in deposits compared to advances.

Banking officials said that achieving 68 percent of annual targets in the first half of the fiscal year is unusual and may prompt a recalibration of targets in the remaining quarters.

They attributed the surge to conservative planning at the start of the year, combined with stronger-than-expected credit demand, driven by infrastructure activity, government initiatives and improved economic sentiment in J&K.

With lending rates ranging between 7.25 and 14 percent across sectors and credit demand remaining buoyant, banks are expected to comfortably surpass their annual disbursement targets, potentially making FY26 one of the strongest years for banking performance in J&K in recent times.

The post The Year That Was | Big Borrowing Boom: Banks Lend ₹43,000 Cr in J&K appeared first on Greater Kashmir.

Representatives of the Jammu & Kashmir Fruits & Vegetables Processing and Integrated Cold Chain Association (JKPICCA), an amalgam of cold store owners from the Union Territory, raised these concerns during a meeting with Union Agriculture Minister Shivraj Singh Chouhan in Delhi. JKPICCA was part of the Hill States Horticulture Forum (HSHF), a collective platform representing apple growers and allied stakeholders from Jammu and Kashmir, Himachal Pradesh and Uttarakhand.

JKPICCA president Bashir Ahmad Naik said the delegation clearly communicated that tariff concessions under FTAs would severely undermine the domestic apple industry. “We have raised our apprehensions in unambiguous terms. Any dilution of the existing customs duty structure will be disastrous for growers as well as for the cold-chain infrastructure painstakingly developed over decades in Jammu and Kashmir and other hill states,” he said.

A high-level delegation of the Hill States Horticulture Forum, led by Harish Chouhan and comprising representatives including Maajid A. Wafai, Bashir Ahmad Naik, Izhan Javeed, Irshad A. Bhat and Sunil Aggarwal, met the Union Agriculture Minister at his residence to press for immediate government intervention.

The delegation told the Minister that horticulture—particularly apple cultivation—is the backbone of hill-state economies, supporting lakhs of farming families and a wide range of allied activities, including labour employment, transport, cold storage, grading, packaging and wholesale trade. Any policy shock to the apple sector, they said, would have cascading effects across the entire rural economy of the Himalayan region.

Grower representatives expressed deep concern over policy signals emerging from ongoing and proposed trade negotiations with countries such as New Zealand, the European Union, the United States and Chile. They cautioned that even limited tariff-rate quotas with reduced import duties could flood the domestic market with cheaper apples, putting Indian growers at a structural disadvantage.

They pointed out that imported apples often benefit from heavy state subsidies, advanced mechanisation and export incentives in their countries of origin, while Indian growers face rising input costs, climatic uncertainties and logistical challenges. Any reduction from the existing 50 percent customs duty, they warned, would tilt the playing field sharply against domestic producers.
A key concern highlighted was the proposal to allow apple imports starting from March, which coincides with the beginning of India’s apple marketing season. The Forum said such a move would severely damage the extensive cold-store infrastructure created across hill states, particularly in Jammu and Kashmir, at enormous public and private cost with support from central and state government incentives.

Allowing imports at the very start of the domestic season would depress prices, erode farmer incomes and render cold storage facilities economically unviable, they said. The impact, the delegation cautioned, would extend beyond growers to transporters, packers, commission agents, daily-wage labourers and thousands of orchard-dependent households.

The Forum submitted a set of specific demands to the Union Agriculture Ministry, including an immediate review and reconsideration of any proposal to reduce apple import duties under the FTA framework; a comprehensive socio-economic impact assessment of existing and proposed FTAs on domestic horticulture; stronger safeguard mechanisms to prevent market flooding and protect domestic prices; and structured engagement with farmer groups during trade negotiations.
The delegation also urged the government to revise the reference (assessing) value of imported apples from the existing ₹50 to ₹90 to prevent under-invoicing and unfair competition.

Members of the delegation said the Union Agriculture Minister gave them a patient hearing and assured them that the interests of India’s farmers would not be compromised under any circumstances, adding that the assurance has provided confidence to growers and cold-chain operators that their concerns will be examined seriously at the highest level.

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