In Jammu and Kashmir after the new industrial policy, there are a lot of investment proposals coming because of this new policy. Government recently said that they have received proposals for the investments to the tune Rs 51000 cr.
The officials said that it is the reflection of an investment friendly environment in J&K.
The Jammu and Kashmir government receiving proposals worth over Rs 51000 cr for investment is a candid reflection of an alluring investment friendly environment in the Union Territory after the launch of New Central Sector scheme for industrial development here.
The J&K administration in January last year announced a new industrial developmental scheme with an outlay of Rs 28,400 crore to encourage new investment and take industrial development to the block level. The new policy, which will be applicable till 2037, also paved the way for bigger investors to invest in J&K.
These potential proposals are estimated to generate 2.37 lakh employment, the official said, adding that the clearance process of these proposals has already been fast tracked.
The new central sector scheme provides four types of incentives including Capital Investment Incentive, Capital Interest Subvention, Goods & Services Tax Linked Incentive and Working Capital Interest Subvention.