New budget
For the development of industrial estates, promotion of Ease of Doing Business, export hubs creation to get focus in J&K.
The Budget has a provision of conducting exhibitions for showcasing industrial potential of the region besides organizing workshops on capacity building and start-up promotion. The budget has also earmarked funds for providing Turnover Incentives to boost industrial development for entailing increase in employment.
Introduction of quality certification with branding under Handloom and Handicraft sector will also be done in 2023-24 and steps will be taken for popularization of local products.
The Jammu and Kashmir government has already taken a slew of measures towards promotion of ease of doing business in the UT which has received tremendous response from various potential investors. Besides, further steps are being taken up for reducing compliances on “Ease of Living” and “Ease of Doing Business”.
The Budget will also facilitate conduct of mock drills to be carried out across the Union Territory. Besides, Micro, Small and Medium Enterprises (MSME) development policy would also be notified.
Samadhaan 2.0 would be implemented this year and the government would facilitate tie-up of MSME with e-commerce platforms to boost sales of products of local units. Jammu and Kashmir would also introduce Policy framework to support private investment besides implementation of unified logistic interface platform.
