New Delhi: The state's economy has suffered a loss of Rs 15,000 crore since the central government abolished the provisions of Article 370 from Jammu and Kashmir on August 5. A business organization has claimed this. The organization says that this is only a 'rough estimate'. It is noteworthy that the Central Government has abolished the provisions of Article 370 of the Constitution giving special status to Jammu and Kashmir and divided it into two Union Territories of Ladakh and Jammu and Kashmir.
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Sheikh Ashik Hussain, president of the Kashmir Chamber of Commerce and Industry (KCCI), told the media, "We have a rough estimate that the situation arising after August 5 has caused a loss of Rs 15,000 crore to the Kashmir economy so far. Comprehensive figures will come in a week. " Hussain further said that more worrying than the damage to the economy is the loss of employment due to the shutdown of internet services, agitation, and strike. Hussain said that the handicrafts, tourism, and e-commerce sectors have been the most affected by the decision of the Center.
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However, he further said that now most of the restrictions have been removed, but internet services and prepaid mobile services are still banned on all platforms. He said that 50,000 people have lost employment in the handicraft sector due to a lack of communication services. The region is not getting new orders due to this.