Why Ladakh Is Unlikely To Gain Much When It Becomes A Union Territory theprint.in
With most of the former J&K state’s physical assets in the Jammu and Kashmir regions, Ladakh can only stake claim to financial assets that are not in good health.
The low cash balance in the books of the erstwhile state of Jammu & Kashmir (J&K) government is likely to hurt the newly-carved union territory of Ladakh, government sources familiar with the matter told ThePrint.
With most of the state’s physical assets located in the Jammu and Kashmir regions, which have also been converted into a union territory, Ladakh can only stake claim to financial assets and very few physical assets that are outside the state.
The state government’s finances, however, are not in good health, the sources added.
According to the last publicly available data, cash with the J&K government was pegged at Rs 428 crore as of March 2017. A senior J&K state government official said that this cash balance has dwindled further as of March 2019. He, however, did not disclose the exact amount as the data is yet to be made public.
That could pose a serious challenge for the new Union Territory of Ladakh.
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