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Srinagar: Kashmir Chamber of Commerce and Industry (KCCI) on Wednesday said that it will conduct the elections for Executive Committee and Office Bearers under the supervision of Deputy Commissioner (DC) Srinagar. The spokesperson of KCCI in a statement welcomed the direction of the High Court for conducting the elections for Executive Committee and Office Bearers within one month and by the end of April 2021. The six members committee shall conduct an election under the…

Srinagar: Chief Secretary, B V R Subrahmanyam on Wednesday chaired a meeting to review the preparations being made for a safe and hassle-free Amarnathji Yatra 2021. Principal Secretary to Lieutenant Governor/CEO, SASB, Administrative Secretaries of departments of Public Works (R&B), Industries and Commerce, and Tourism besides Divisional Commissioners of Kashmir & Jammu, concerned Deputy Commissioners and Additional CEO SASB participated in the meeting. The Chief Secretary reviewed the arrangements for safe, smooth, and secure movement…

New Delhi: Over 10,000 companies were shut down voluntarily in the country from April 2020 till February this year, also a period when the coronavirus pandemic and subsequent lockdowns had significantly disrupted economic activities. The latest data available with the Ministry of Corporate Affairs (MCA) showed that a total of 10,113 companies were struck off under Section 248(2) of the Companies Act, 2013, in the current financial year till February. Section 248(2) implies that the…

Srinagar: Srinagar tops from bottom in Urban Ministry’s “Ease of Living Index”. Ease of living index is a tool used to assess the quality of life, economic ability, sustainability and resilience of a city. Out of 49 cities ranked in the million plus category of the liveability index, Srinagar ranks last in the list with a score of 42.9 while Jammu secured 27th spot in the list with a score of 52.49. In the million…

Jammu: Jammu Chamber of Commerce and Industry has objected to levying of Property Tax in JK and appealed to the government to withdraw the decision. They warned the Government of intensified protest if the Government does not roll back the law. In a press conference in Jammu, the president of the chamber, Arun Gupta, said that people of Jammu Kashmir, especially traders, have been going through an economic crisis for the last one and a…

Srinagar: Kashmir tourism has seen a very steep decline in tourist inflow as a mere 84,000 visitors arrived in the last 18 months in Kashmir — post abrogation of Article 370 on August 5, 2019. The numbers are just 0.8 percent tourists that had visited Kashmir valley annually as over one million tourists had visited valley in 2010-13. Union Tourism Minister Prahlad Patel informed the Parliament that 84,326 tourists visited Kashmir since August 5, 2019,…

Srinagar: The Government of India on Monday proposed Rs 30,757 crore grant for Jammu and Kashmir for the next fiscal. Finance Minister Nirmala Sitharaman made the allocation for the UT while presenting the union budget for the coming fiscal. The grant for Jammu and Kashmir is equal to last year’s transfers. This means that there is unlikely an increase in Jammu and Kashmir’s Budget, likely to be presented later this month in the Parliament. …

Finance Minister of India Nirmala Sitharaman announced an outlay of Rs 35,000 crore for India’s coronavirus vaccination programme, while presenting the Union Budget 2021-’22 in the Parliament on Monday. The government will make more allocations to this fund, as and when required, she added. Sitharaman said that the proposals made in this year’s Budget rest on six pillars. These are health and well-being, physical and financial capital and infrastructure, inclusive development for “ an “aspirational…

Part of the shares in JKB that were owned by Govt of JK to be transferred Srinagar: J&K Bank on Tuesday said its board has given in-principle approval to transfer 8.23 per cent stake to Union Territory of Ladakh. The board decided “to give its ‘In-principle approval’ for implementation of General Administration Department, Govt. of Jammu and Kashmir… in terms of which ownership of 8.23 per cent out of its (J&K Govt.) shareholding in Jammu…

In the July-September quarter of this fiscal, the Indian economy contracted 7.5 per cent, official data showed on Friday. According to data released by the National Statistical Office (NSO), the gross domestic product (GDP) had expanded by 4.4 per cent in the corresponding July-September period of 2019-20. The economy had shrunk by an unprecedented 23.9 per cent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns. Meanwhile, China’s economy…