In a significant move to strengthen Jammu & Kashmir’s economy, Prime Minister Narendra Modi launched the GST Bachat Utsav on September 22. The initiative cuts GST from 12% to 5% on key sectors including handicrafts, tourism, agriculture, and specialty products. The reform is designed to reduce costs, increase competitiveness, and improve livelihoods. It aligns with J&K’s long-term goals of industrial diversification, job creation, and rural empowerment, while also preserving cultural heritage and boosting exports.

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• GST reduced from 12% to 5% on handicrafts, tourism, agriculture, local goods

• Lakhs of artisans, farmers, tourism workers directly benefit from lower tax

• Pashmina shawls, silk carpets, papier-mâché items now more affordable

• Basohli paintings to see wider demand with 5% GST, aiding artist incomes

• Srinagar, Budgam, Ganderbal wicker willow clusters gain price advantage

• Tourism boost expected with hotel GST cut to 5% for stays under ₹7,500

• Lower hotel tariffs to increase tourist stay, raise local business earnings

• GST cut helps J&K products compete in global markets, boosts exports

• Encourages rural job creation, especially in craft and agri-based livelihoods

• Reform in sync with J&K’s vision of inclusive and sustainable development