Haseeb-a-Drabu, economic advisor to the Jammu and Kashmir government, will take charge as chairman and CEO of Jammu and Kashmir Bank on Thursday.
People's Democratic Party patron Mufti Mohammad Sayeed was on Sunday sworn-in as the 12th chief minister of Jammu and Kashmir.
Arun Jaitley on Friday said he would defer the move.
Although investments have been few and far between in the valley, which has had to live under the shadow of attacks by militants from across the border since 1989, the economist said there was a risk that even those who had invested could wind up operations.
The People's Democratic Party which has emerged as the single largest party in Jammu and Kashmir appears to be in the pole position to form the government in the 87 member Assembly. Rediff.com brings you images from the ground.
The Enforcement Directorate questioned former Jammu and Kashmir chief minister Omar Abdullah for five hours on Thursday in connection with a case related to the purchase of a building by the J&K Bank about 12 years ago when he was in office, officials said in New Delhi.
States should have enough time. We still do not know the rules. There are a lot of operational difficulties, says Jammu and Kashmir Finance Minister Haseeb Drabu.
Drabu said the GST regime will roll out in the state at midnight on Friday, making Jammu and Kashmir the last state to join the new tax regime.
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
The sources said consultations with some of the ministries have been undertaken and the state may soon witness the end of governor's rule.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
"It (JK) is not a political issue as far as I can see. They have been barking up the wrong tree for the last 50 or 70 years by talking about the politics of it, that the political situation has never improved. We seriously need to look at in terms of how it is a society that is in search for itself," Drabu had said at an event organised by the PHD Chamber of Commerce and Industry in New Delhi on Friday.
The aim of his visit was to explore how financial institutions can be co-opted in reviving the local economy.
It's seen as a signal that he wants to engage with India Inc at a time when the economy has started looking up.
The administration of the union territory as directed by the Jammu and Kashmir high court to make public land given under the controversial Roshni land scheme, since scrapped by a court, came out with the list of beneficiaries.
People's Democratic Partypatron Mufti Mohammed Sayeed will head a 25-member cabinet, half of it from Bharatiya Janata Party, in Jammu and Kashmir and the swearing-in ceremony on Sunday in Jammu will be attended by Prime Minister Narendra Modi.
Shadow of elections may overshadow political consensus at GST Council meetings.
Peoples Democratic Party patron Mufti Mohammed Sayeed will meet Prime Minister Narendra Modi for the first time on February 27 after which a swearing-in ceremony is likely to be held on March 1, two months after the results for the Jammu and Kashmir Assembly polls were announced.
Mehbooba also became the second Muslim woman to become the chief minister of any state in India.
Deadlock over government formation in J&K seems to have ended with PDP chief Mehbooba Mufti on Tuesday calling on PM Narendra Modi, a meeting which she described as "very positive" and "good" in addressing issues pertaining to the people of the state.
Reaching a consensus might also get tougher, as already seen with issues like inclusion of natural gas in GST and imposition of a sugar cess, both central proposals being resisted.
Inter-state supply may come under GST composition
"God forbid if they (militants) would have done something. It would not have been possible to have smooth conduct of the elections," Sayeed said.
Top Congress sources said they would not hold up the Bill.
Jammu and Kashmir Chief Minister Omar Abdullah and three of his cabinet colleagues are among 44 candidates whose fate will be decided on Tuesday in the third phase of polling in 16 seats spread across Budgam, Pulwama and Baramulla districts.
The party also said it would be a travesty to treat the current unrest in the Valley as a mere law and order problem.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
An economist from J&K and a popular face from the RSS/BJP sat together to craftily weave an alliance in what is one of the most difficult agenda-setting exercises in recent history.
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