New Delhi [India], March 29 (ANI): Lieutenant Governor of Jammu and Kashmir Manoj Sinha while addressing a press conference after the union territory's 2023-24 Budget said 500 new startups have come up during the last past three years.

On Monday, Parliament passed the 'The Jammu and Kashmir Appropriation (No 2) Bill, 2023'.

The Budget size of Jammu and Kashmir for 2023-24 was Rs 118, 500 crore. Of which, capital expenditure is pegged at Rs 41,491 crore.

The budget for 2023-24 was totally growth-oriented and GDP is estimated to be 10 per cent. It aims to double of GDP in the next five years.

Last year, the union territory has witnessed economic growth of 14.64 per cent and tax revenue growth of 31 per cent, Sinha said.

"The law and order situation has improved appreciably in J-K and this year highest number of 1.88 crore tourists visited J-K," said Sinha in the press conference.

Sinha said Jammu and Kashmir have been among the top performers in the country for the implementation of schemes like Pradhan Mantri Gram Sadak Yojana (PMGSY), Amrit Sarovar, SVAMITVA Scheme, Azadi Ka Amrit Mahotsav, Nasha Mukt Abhiyan and Renewable Energy Development. Also, most of the social security schemes have been saturated in J-K.

Speaking about the unemployment rate, he said it has marginally reduced and added the UT plans to cover around three lakhs in various self-employment schemes next year.

The LG added a holistic agriculture development plan will be rolled out, with 29 proposed projects at an outlay of Rs 5,012 crore over a period of five years.

Honey production will be tripled over the next five years. Milk production will be taken to 45 lakh tonne from 25 lakh tonne over the next five years.

About the flagship Amrit Sarovar initiative, 2,420 are already completed in the UT and the remaining are to be completed by August 15, 2023. (ANI)