India's prime minister has announced a $12 billion economic aid package for the Indian-controlled portion of Kashmir.

Narendra Modi promised the financial assistance Saturday on a visit to Srinagar. The region's main city was under a security lockdown to prevent protests.

Modi: $12 Billion Aid Package for Kashmir

The Indian leader said he wanted to restore Kashmir to its "former glory" and "build a new Kashmir, a powerful Kashmir."

Modi: $12 Billion Aid Package for Kashmir

Modi's visit to Srinagar comes a little more than a year after a flood in Kashmir that killed hundreds of people and left thousands homeless.

Modi: $12 Billion Aid Package for Kashmir

Modi avoided talking about politics in his speech in the restive area, but opposition leaders were still critical.

"Only providing promised right to self-determination will change the fate of Kashmir, not mere economic packages," said separatist leader Ayed Ali Geelani.

Kashmir is divided between India and Pakistan, though both nations claim the region in its entirety.

The nuclear-armed neighbors have fought two wars over the region since gaining independence from Britain in 1947.