Lt Governor Manoj Sinha announces Rs 1350 cr economic package for Jammu and Kashmir

To provide a breather to the ailing business community of Jammu and Kashmir, Lieutenant Governor Manoj Sinha on Saturday announced an economic package of Rs 1,350 crore to the business sector saying that “this was just a beginning and more things were in offing.” Addressing a presser, he said that the government was considering a “structured package” for transporters, houseboat owners, shikara wallas, Pitu walas, and others, who have suffered enormously for the last 2 decades or so.

LG Sinha further said the Rs 1,350-crore economic package is for the business community, apart from the Rs 14,000-crore package announced for Jammu and Kashmir under ‘Aatmanirbhar Abhiyan'. He also announced stamp duty exemption for all borrowers till March 2021 for all borrowers.

“I am happy to announce one more landmark decision that from October 1, a special desk will be set up at every Jammu and Kashmir bank branch for youth including budding entrepreneurs,” the LG said.

READ: 28 shops, house gutted in fire in J&K's Ramban

While giving further details about this big economic package, Lt Guv Sinha said that his government is providing a “special loan package for the tourism sector” through Jammu and Kashmir bank.

He added, “A land bank for establishing good parks has also been put in place.”

Taking care of the needs of the handicraft sector, he said, “Handloom and Handicraft artisans will get a credit card with 2 Lakh limits with only 7% interest rebate,”. Sinha, who was appointed the LG of Jammu and Kashmir in August, said the government is committed to the development of the newly formed Union Territory.

“Business is suffering here not just for the past 15 months but for the past 2 decades,” he said.

He added the government of India has already prepared a “new industrial policy” that will give a boost to the industrial sector through existing as well as new industries. In this regard, the announcement will be made soon by the union government.

He stressed that all projects taken by his government will be completed in a time-bound manner.

READ: 'Let's make it bigger': Raina to set up Cricket academy in J&K; meets Lt Guv Manoj Sinha

(with inputs from ANI)