Srinagar, Feb 1:(KNS) While welcoming the funds for conservation of Dal Lake, the Jammu and Kashmir Hoteliers Club has urged the GoI to ensure the earmarked funds are utilised properly and appropriately.

In a statement to Kashmir News Service (KNS) , Chairman JKHC Mushtaq Chaya said Rs 35581 crore for Jammu and Kashmir in the Union budget presented by Finance Minister Nirmala Sitharaman in the Parliament is welcome step "but more needs to be done to ensure JK's economic growth".

He said like a special grant of Rs 273 crore for rehabilitation of Dal—Nageen lake, the GoI should have proposed similar package for the rehabilitation of travel and hospitality sector which is one of the mainstays of economy in the Union Territory.

Chaya said Kashmir economy has always been at the receiving end due to various known reasons which should be compensated by substantial economic package from the centre government.

"We were expecting generous funding from Government of India to give boost to JK's economic sectors which have been badly hit for past many years. Kashmiri youth are enterprising but don't have resources in this landlocked place. The capital infusion will give them a major boost to reboot their ventures which suffered losses during the continuous lockdowns," he said.

Chaya urged LG administration to impress upon the finance ministry for special economic package to Jammu and Kashmir.(KNS)