India, Feb. 10 -- Chief Minister Omar Abdullah on Tuesday rejected claims that the Special Assistance to States for Capital Investment (SASCI) scheme was a "debt trap", calling the Union Territory's securing of Rs 3,000 crore under the programme a major achievement.

Replying during the Budget discussion in the Assembly, Abdullah said criticism of the scheme reflected a poor understanding of its provisions and long-term financial implications.

Referring to remarks made by some legislators, the chief minister said SASCI was being wrongly projected as corporate debt linked to private companies. He said it was important to understand that Jammu and Kashmir would receive an interest-free loan for a period of 50 years under the scheme.

Abdul...