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How Much Has The Revocation Of Article 370 Costed Kashmir’s Economy

| Published on December 21, 2019

It was during August 2019, India saw what former Kashmir Chief Minister Mehbooba Mufti called the Blackest day in its democratic history, the revocation of Article 370.

What is Article 370?

Article 370 of the Indian Constitution grants special status to Jammu and Kashmir, with separate laws applying to the citizens of that region in terms of property, citizenship and fundamental rights. However, over the path a few months in 2019, the Article was revoked and standard Indian Constitution laws are applicable to the citizens of Jammu and Kashmir.

Infact, the implementation of this change was also followed by military action in the region with a security crash, shut down of telecommunication and internet services along with travel restrictions. Even though the Indian Government justified this as a step to develop Kashmir and bring it together with the rest of India, the locals tend to disagree.

The past 120 days

After the lockdown, things have not been that great in the economy of Kashmir. The tourism sector which flourished especially during the winter season has seen a steep downfall. Infact, with restrictions on the internet, the information technology and e-commerce industry has also been struggling.

With no telephones working, travel and time costs increased, and there has been a total loss of $2.4 billion in the economy of Kashmir. The Kashmir Chamber of Commerce, 85 years old and consisting of 1500 business traders and exporters, has been worried about the future of the business world in Jammu and Kashmir.

It is only time that will tell how much further damage the economy has to bear due to such political discrepancies.

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