Jammu and Kashmir Lieutenant Governor announces ₹1,350 crore economic package for business sector

The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, announced an economic package of ₹1350 crores for supporting the people engaged in the business sector.

The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, announced an economic package of ₹1350 crores for supporting the people engaged in the business sector. He said that this scheme is in addition to the benefits of Atma Nirbhar Bharat package in a press conference in Srinagar.

The Union government has prepared a new industrial policy for Jammu and Kashmir, which will reportedly benefit investors immensely. A discount of 50% will be provided in the electricity and water bills too.

Advertisement

“I believe that every announcement we make should be implemented with quality. Decided to give 5% Interest subvention to every borrower from the business community at every level for six months. Government is putting ₹950 crore for this. 50% concession in electricity bills and govt is putting Rs 105 crore in this,” Sinha said.
The decision to give 5% interest subvention to every borrower from the business community, without any conditions for six months in the current financial year is a step to generate more employment opportunities in the valley.