LG takes up issue with PM, HM, DPIIT
JAMMU, Dec 7: With Rs 28,400 worth industrial package granted to Jammu and Kashmir to be exhausted after registration of 971 units, Lieutenant Governor Manoj Sinha is understood to have sought the intervention of Prime Minister Narendra Modi, Home Minister Amit Shah and Department for Promotion of Industrial and Internal Trade (DPIIT), Government of India for raising the package to Rs 75,000 crore to facilitate more registrations as nearly 300 proposals are awaiting the nod.
Officials told the Excelsior that the New Central Sector Scheme (NCSS) which started on April 1, 2021 for Jammu and Kashmir amounting to Rs 28,400 crore will continue till 2037 but entire amount meant for incentives will be exhausted with registration of 971 units. However, since there has been massive response to the scheme and nearly 300 more proposals are in the pipeline, the Lieutenant Governor has taken up the issue with top brass of the Central Government for raising the package from Rs 28,400 crore to Rs 75,000 crore.
“A whopping 971 industrial units have been registered across Jammu and Kashmir which will avail incentives till 2037 and run their businesses in different parts of the Union Territory generating employment and other facilities. In view of encouraging response to the industrial development scheme, 300 more proposals are ready but their approval will require enhancement of the package from Rs 28,400 crore,” the officials said.
The Lieutenant Governor’s Secretariat is reported to have written to the Department for Promotion of Industrial and Internal Trade, Ministry of Commerce and Industry, Government of India, for increasing financial outlay of the package from Rs 28,400 crore to Rs 75,000 crore to accommodate more proposals to encourage industrial investments in Jammu and Kashmir which will benefit the local youth in terms of employment.
Simultaneously, the Lieutenant Governor is also reported to have sought the intervention of the Prime Minister and the Home Minister for increasing the industrial package to ensure more industrial investments in the Union Territory.
According to the officials, a total of 971 industrial investment proposals have been cleared with financial outlay of Rs 28,400 crore. However, these incentives will be given to the industries till 2037 subject to certain conditions which are part of the New Central Sector Scheme. While many more proposals are in the pipeline, nearly 300 cases are almost ready but now they are in dilemma but have been asked to wait till the Central Government takes a call on the proposal to enhance financial outlay.
Overall, as per the officials, the industrial investment proposals have crossed Rs 1.25 lakh crore.
The Central Government had in April 2021 unveiled Jammu and Kashmir Industrial Policy worth Rs 28,400 crore aimed at giving industrial boost to the UT and generate three lakh jobs. Later, it was presumed that number of the jobs generation from the policy could go up.
Investors from abroad including Dubai have also invested in the UT.
The industrial initiatives taken by the Central Government in Jammu and Kashmir include J&K Industrial Policy, J&K Industrial Land Allotment Policy, 2021-30, J&K Private Industrial Estate Development Policy, 2021-30, Policy for Promotion of Foreign Investment in Industrial Sector in J&K, 2022, J&K Single Window Rules, 2021, Turnover Incentive Scheme, 2021, J&K Wool Processing, Handloom and Handicraft Policy, 2020, Financial Support Scheme for Cooperatives/Self Help Groups, 2020, Credit Card Scheme for Artisans and Weavers, 2020, Kharkhandar Scheme for Development of Craft Sector in J&K, Export Subsidy Scheme, 2021, Revised Education Scheme 2022 for Artisans/Weavers of Handicrafts and Handloom Department, and J&K Start Up Policy 2024-27
