Srinagar, October 14, 2025 : Chief Minister Omar Abdullah on Tuesday said the recent GST rate revision is expected to reduce Jammu and Kashmir’s tax collection by Rs 900–1,000 crore in the current fiscal. He made the remarks while addressing the national executive meeting of FICCI here.
Abdullah highlighted that the Pahalgam terror attack and heavy rains from July to September 2025 have severely impacted the Union Territory’s economy. “The torrential rains have hit agriculture and horticulture hard, while the terror attack damaged the perception of Jammu and Kashmir as a safe tourism destination,” he said.
“The revision of GST rates alone will reduce our earnings by Rs 900–1,000 crore. For a state already in deficit, this is significant,” the Chief Minister added.
Despite the setbacks, Abdullah expressed cautious optimism: “The situation in Jammu and Kashmir, when good, is very good, and when bad, it is terrible. We are moving in a positive direction now, though it will take time and effort to restore the region to its pre-Pahalgam position.”
