Jammu and Kashmir: Lieutenant Governor Manoj Sinha on Saturday (September 19) announced an economic package of Rs 1350 crore for Jammu and Kashmir in a bid to boost developmental work in the newly formed territory.
Addressing a press conference at Raj Bhawan, Jammu and Kashmir LG Manoj Sinha said, ''I am glad to announce a Rs 1,350 crores economic package for the people in the business community facing economic difficulties. This is additional to the benefits of Atma Nirbhar Bharat & other measures taken by us to comfort the business community.''
He said, ''We have decided to give 5% interest subvention to every borrower from the business community, without any conditions for six months in the current financial year. This will be a huge relief and help in generating employment here.''
To promote the handloom and handicraft sector, Manoj Sinha said that under credit card scheme, we have decided to extend maximum limit of Rs 1 lakh to Rs 2 lakh for people working in handloom and handicraft industry. They will also be given 7% interest subvention.
Sinha informed that from October 1, Jammu and Kashmir bank will start a special desk for youth and women enterprises.
He said, ''50% discount to be given for a year in electricity&water bills. Stamp duty exempted up to March 2021 in case of all borrowers. Setting up customised Health-Tourism scheme by J&K bank for financial assistance to people in tourism sector with good pricing and repayment options.''
The economic package was announced days after Kashmir Trade Alliance (KTA) had earlier stated that due to coronavirus pandemic lockdown businessmen have incurred huge losses.
