Farooq Abdullah said Jammu and Kashmir provides numerous opportunities in agriculture.
National Conference (NC) president Farooq Abdullah on Monday said the objectives of peace, economic progress and development in Jammu and Kashmir cannot be achieved unless the Centre reverses all the decisions taken on August 5 last year.
Mr Abdullah, who is also the MP from the Srinagar Lok Sabha constituency, made these comments at a private function.
The central government had on August 5, 2019 abrogated Article 370, which gave special status to Jammu and Kashmir. It also bifurcated the erstwhile state into union territories -- Jammu and Kashmir, and Ladakh.
"The goal of inclusive development in J-K can be turbo-powered only by empowering the people of Jammu and Kashmir in the real sense and by reversing the August 05, 2019 actions," the NC chief said.
"J-K's path to development and economic progress is not possible unless New Delhi doesn't do justice with the people of J-K and reverses all the decisions taken on the 5th of August, 2019," he added.
Currently, Mr Abdullah said, the development scenario in Jammu and Kashmir is very depressing.
"Until recently feted for topping various human development indices, the development scenario in J-K currently is very depressing. The private sector in J-K particularly has suffered major reverses on one account or the other since the 5th of August, 2019.
"Despite being very stunted, the private sector in J-K used to provide jobs to scores of well-qualified and skilled youth. Regrettably, the successive clampdown down and lockdown since August last year have pushed the already ailing businesses to the wall," he said.
Mr Abdullah said it is the stupendous challenge of fast-tracking all-round development which has been at the receiving end in Jammu and Kashmir since the "unilateral, unconstitutional and undemocratic" abrogation of Articles 370 and 35-A.
"A catch-up to the pre-crisis situation is a far cry under the present situation with no active fiscal support coming from the government," he said.
The pervasive unemployment in Jammu and Kashmir is a direct consequence of the measures undertaken by the government of India last year, he alleged.
Mr Abdullah said Jammu and Kashmir provides numerous opportunities in agriculture, handicrafts, food processing, and other untapped resources in the services and hospitality sectors.
Fostering entrepreneurship activities, however, requires a conducive atmosphere for businesses to thrive. Budding entrepreneurs continue to suffer due to the lack of support from government and financial institutions, he said.