SRINAGAR: Jammu and Kashmir Pradesh Congress Committee (JKPCC) Chief Tariq Hameed Karra on Tuesday questioned the government’s decision to seek fresh loans under the Special Assistance to States for Capital Investment (SASCI), stating that around ₹1 lakh crore is lying unspent.
Speaking in the Legislative Assembly, as per news agency Kashmir News Corner — KNC, Karra said that despite the availability of substantial funds, the government has utilised only about 12 percent of the total budget for capital expenditure so far.
“Why is the government going for new loans under SASCI when nearly ₹1 lakh crore remains unspent? If adequate funds are already available, seeking additional loans raises serious concerns about fiscal responsibility and misplaced priorities,” Karra said.
The JKPCC Chief cautioned that excessive reliance on SASCI loans could turn into a debt trap for Jammu and Kashmir, adversely impacting the financial health of the Union Territory. He stressed that the focus should be on effective utilisation of existing funds rather than increasing the debt burden.
Karra further said that low capital expenditure reflects poor financial planning and weak implementation on the ground, urging the government to clarify its borrowing strategy and ensure transparency in budget utilisation. (KNC)
