SASCI Loans a Debt Trap for J&K: Tariq Qarra

Questions fresh borrowings despite nearly ₹1 lakh crore unspent

Jammu: Jammu and Kashmir Pradesh Congress Committee (PCC) president Tariq Hameed Qarra on Tuesday questioned the government’s decision to seek fresh loans under the Special Assistance Scheme for Capital Investment (SASCI), stating that nearly ₹1 lakh crore of allocated funds remain unutilized.
Speaking during the budget discussion in the Legislative Assembly, Qarra said that only about 12 percent of the budget has been utilized for capital expenditure, raising serious concerns over financial planning and execution.

“If such a huge amount of funds is already lying unspent, why is the government seeking additional loans under SASCI?” Qarra asked, warning that continued borrowing under these circumstances could push Jammu and Kashmir into a debt trap.
He said that seeking new loans despite having ample unspent funds reflects poor fiscal discipline and misplaced development priorities.
The PCC chief urged the government to first ensure proper utilization of existing funds before burdening the Union Territory with additional debt, stressing the need for transparency, accountability, and efficient execution of development projects.
Qarra cautioned that unchecked borrowing without corresponding expenditure on the ground could have long-term financial repercussions for Jammu and Kashmir.(CNS)